Mojio announced today that it has secured new investment from strategic partners.
Adding to the company’s $30 million Series B raise in late 2017, Mojio now welcomes Iris Capital and TELUS Ventures to its growing roster of strategic backers.
The connected car cloud platform company will use the new support to accelerate the global adoption of its connected car solutions for mobile network operators and automotive manufacturers on both sides of the Atlantic.
Mojio is the first international investment outside of Europe for IrisNext, Iris Capital’s latest $280 million fund.
TELUS Ventures, the strategic venture investment arm of TELUS, is reinforcing their commitment to Mojio following the successful roll-out of TELUS Drive+, the operator’s connected car service, powered by Mojio.
“We are thrilled Iris Capital and TELUS Ventures are fueling this stage in our growth,” stated Mojio CEO, Kenny Hawk. “After a breakthrough year connecting more than half a million cars to our platform, this strategic funding adds fuel to our tank as we drive toward additional launches with major mobile network operators globally.”
On a mission to give every vehicle a voice, Mojio has rapidly connected over 500,000 vehicles via its growing portfolio of mobile network operator customers, including Deutsche Telekom, T-Mobile US Inc., and TELUS.
After partnering with a mobile network operator, Mojio delivers connected car features to subscribers through the combination of a plug and play device and a handy mobile app and built-in services.
Common Mojio use cases include getting notified about engine issues to make informed decisions on service and repairs, monitoring vehicle location and status to help with ride coordination and family safety, and logging business trips to maximize mileage expensing and tax returns.
In addition to delivering frontline services for consumers through their mobile networks, Mojio has already
collected over 6 billion miles of driving data. Mojio uses machine learning to generate insights that will
shape the future of mobility, making the driving experience smarter, safer and less expensive.