Mojio secures additional Series B add-on funding

Mojio has closed an additional Series B add-on financing led Iris Capital with participation of TELUS Ventures. Mojio raised $#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!#

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

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.