One of Canada’s leading connected car companies has announced a new investment and partnership.
Mojio has announced that they have received a new investment from Bosch to add onto Mojio’s $30 million Series B round raised in late 2017. This is now the second time the Vancouver-based Mojio has added onto that round—earlier this year in March, Iris Capital and TELUS Ventures added onto the round as well.
Along with the new investment—which is currently undisclosed in terms of the exact amount—Mojio signed an innovation agreement with Bosch to build out mobility services. The two will work together to focus on vehicle communication, diagnostics and crash detection at first, then expand to other areas as the partnership develops.
The goal will be to help insurance companies determine how severe a crash is based on data from a connected car, and in some cases address claims remotely rather than sending out a physical worker.
“The Mojio platform combined with Bosch’s immense automotive expertise will empower us to accelerate the development and deployment of advanced connected car services to automakers, mobile network operators and consumers around the world,” said Mojio CEO Kenny Hawk.
Bosch and Mojio will also look to focus on working with manufacturers in addition to the consumers they normally focus on. Mojio had previously worked with ZTE Canada to offer drivers the chance to turn almost any car into a connected device.
“The extensive data we’ve derived from our portfolio of diagnostic solutions has given us invaluable insights that can be the basis for solutions that bring great value to consumers and OEMs,” said Mike Mansuetti, president of Bosch in North America.
Right now, Bosch is a leading manufacturer and supplier of several car parts, such as navigation systems and stereo systems. The German company also develops hybrid diesel/electric technology and other specialized fields like traction control and body electronics.
When that experience is combined with Mojio’s vast data sets, the two can work together to create more intuitive connected car solutions for any market. Mojio has gathered data from more than seven billion miles worth of driving, as well as through partnerships with huge companies like Rogers and TELUS.