wejo, U.K. based early-stage tech company announces $12 million fundraisings to drive growth and innovation with new global automotive partners as the market leader of mobility intelligence. The business organizes billions of data points from over 15 million connected cars within the US, partnering with global automotive manufacturers to stream data at scale and speed.
General Motors, the US car giant, acquired a 35 percent stake within the firm in 2019 and valued the firm at $275 million. Recent funds have come from new and current investors, with the round being led by DIP Capital LLP and the U.K. government’s Future Fund.
wejo is building the biggest single source of connected car data, making it simple and secure for organizations to form decisions around road development, retail, app development, and transportation. Their data set provides heightened location accuracy in comparison to traditional forms of mobility data using mobile phones as their source.