Connected car cloud platform company, Mojio, announced that it has secured new investment from strategic partners to accelerate the global adoption of its connected car solutions for mobile network operators and automotive manufacturers.
The company welcomed Iris Capital and TELUS Ventures to its growing roster of strategic backers adding to the company’s $30M CAD Series B raise in late 2017.
Mojio is the first international investment outside of Europe for IrisNext, Iris Capital’s latest $280M USD fund. As an independent multi corporate fund supported by Orange, Publicis Groupe, Valeo, BRED and Bpifrance, IrisNext will fuel Mojio’s growth in Europe by leveraging their strong network.
TELUS Ventures, the strategic venture investment arm of TELUS, is reinforcing the Canadian telecommunications brand’s commitment to Mojio following the successful roll-out of TELUS Drive+, the operator’s connected car service, powered by Mojio.
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 immediate and affordable connected car features to subscribers through the combination of a plug and play device and a handy mobile app and built-in services.
Mojio claims to help drivers and their families stay coordinated while keeping their vehicles safe, and cutting down on costly, time-consuming issues associated with car ownership. Common 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
- Locating a stolen vehicle to inform the authorities and have it recovered
- Receiving critical recall notices to ensure remedial action is taken to ensure safety
- Logging business trips to maximize mileage expensing and tax returns
- Using on-demand roadside assistance to get help fast
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.