Wejo collects and organizes data from connected vehicles, aggregating information from almost 11 million internet-connected cars for clients including GM, Hyundai Motor Co and Daimler. The company is Manchester-based and is backed by General Motors. Wejo is preparing to go public later this year through a reverse merger with blank-check company Virtuoso Acquisition Corp. The reverse-merger deal announced last month valued the startup at $800 million including debt. As part of the public-listing process, Wejo has secured a private investment in public equity (PIPE) that now stands at $125 million. Microsoft Corp and insurer Sompo Holdings Inc will invest $25 million as part of that PIPE, joining existing participants including GM and Palantir Technologies. Wejo operates a connected vehicle data platform that standardizes, enriches, and monetizes historic and real-time vehicle telemetry. The company processes data from over 10.6 million vehicles, handles around 400,000 data points per second, and organizes more than 42.3 billion journeys across multiple brands, makes, and models. Processed data is made available on Wejo’s data marketplace and delivered as tailored products and services to transportation and municipal organizations, road authorities, and navigation service providers. Founded in 2014 and headquartered in Manchester with an office in Detroit, Wejo employs more than 150 people. Through a newly announced collaboration with HELLA, Wejo aims to deepen its understanding of sensor data, develop new data-driven business models, and begin joint pilot projects. The company says the strategic investment from HELLA will help it further develop products and solutions for public and private sector customers. Wejo operates a data platform that aggregates telematics from nearly 15 million cars and licenses that data to mobility businesses such as traffic analysts, parking app developers, city planners and governments. The company positions itself around the "digitalisation of mobility" and says it is focused on harnessing data for social good, citing potential benefits like safer roads, more efficient public transport and reduced emissions. Wejo plans to use new funding to bring new products to market and to expand through partnerships with automakers. The business is marketing its dataset to a range of end users across the transport ecosystem. CEO Richard Barlow emphasises delivering better journeys, while a white paper on the company website outlines claimed positive social impacts. The company previously completed a €91 million Series B led by General Motors in February 2019. Wejo is a connected car startup that delivers intelligent insights for car manufacturers, insurers, and service providers through an automotive data exchange platform. The company currently tracks over 7 million vehicles in more than 180 countries and has curated over 78 billion miles of data; it anticipated 28 million cars on its platform by 2020. Wejo plans to continue data-sharing agreements with other automakers and to enable new products and services such as real-time parking availability and local fuel-price comparisons to improve driver experience and safety. It also collaborates with partners including local governments to share data that can improve traffic signalling, reduce congestion, and lower emissions. Founded in 2014, Wejo has offices in Chester, Manchester, and San Jose and employs about 150 people. The new funding is intended to allow the company to scale rapidly.

Total raised

$141M

Funding rounds

4

Latest round

Equity

Latest activity

Jun 2021