Mojio has closed an additional Series B add-on financing led Iris Capital with participation of TELUS Ventures. Mojio raised $[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT – where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. Be informed!#[/mepr-active][mepr-active rule=”374″]6.47 million. Iris Capital and one unnamed French investors led the tranche investing $4.57 million; TELUS Ventures invested $1.90 million. [/mepr-active]
In November 2017, Mojio announced the closing of its tranched $30 million Series B round led by Kensington Capital Partners with participation from new investors, Trend Forward Capital and innogy Ventures, and existing investors, Amazon Alexa Fund, BDC Capital, Deutsche Telekom Capital Partners, BC Tech Fund (managed by Kensington) and Relay Ventures.
Mojio said it intends to use Series B funding to accelerate Mojio’s roll-outs with network operators across the globe. The funding will also used for product innovation and patent development, including the advancement of machine learning initiatives.
Vancouver based Mojio is a global leader in aftermarket telematics, providing its secure cloud platform and white-label app solutions to major wireless carriers, including Deutsche Telekom, T-Mobile and Rogers Communications. Mojio has already connected over 500,000 vehicles around the world, ranging from an almost ancient 1996 Audi A4 to a brand new 2018 Volvo V60. Drivers, families and small businesses use Mojio’s apps to keep their vehicles safe, stay coordinated, and cut down on costly, time-consuming issues associated with car ownership.
photo credit: Mojio