We have successfully invested in Mojio, the leading technology platform and SaaS provider for connected cars, as one of the partners in Mojio’s oversubscribed Series B funding.
Mojio is a pure software company, creating an open platform for connected cars, turning almost any car into a smart platform for applications, services and connectivity. To connect “dumb” cars, Mojio uses the On-Board Diagnostics (OBD) port to connect to the car’s computer system and drivers’ smartphones’.
Next to innogy Ventures, Kensington Capital, Iris Capital, Telus Ventures, Trend Forward Capital and many of the existing shareholders invested with us in this Series B round that will help Mojio to further develop its business and fulfil its ambition to be a leading player in an industry that has huge growth potential. In addition to financial investors, a number of strategic investors including Assurant, Bosch, and T-Mobile also participated in the funding round. More than 470 million connected vehicles are expected to be on our roads by 2025, and the massive potential of monetizing the data generated by those vehicles will result in a $750B+ USD industry by 2030.
The Mojio platform enables:
- In-car Wi-Fi on a separate connection, for passenger connectivity, streaming and vehicle tracking
- Real-time car diagnostics including driver alerts, recalls and maintenance schedules
- Security enhancement through monitoring while parked, roadside assistance and theft notifications
- 3rd party apps for navigating traffic and parking, mileage expense management, fleet tracking etc.