Wejo secures £10m Series B follow-on funding led by DIP Capital
The £10m Series B follow-on round was led by DIP Capital with backing from the UK government's Future Fund to drive global expansion and new product development.
Share allotment filed at Companies House
Manchester-based Wejo manages and transforms data from connected, electric and autonomous vehicles to power mobility solutions.
Connected car data platform Wejo has secured £10m in a Series B follow-on financing round led by DIP Capital, with participation from the UK government's Future Fund alongside other current and new investors. The company will use the capital to drive global expansion with new automotive partners and bring fresh data products to market. This latest funding supports the group as it develops its mobility intelligence platform, which currently processes information from 15m connected vehicles.
From the founder
"To secure this level of commitment from a mix of new and incumbent investors is testament to the quality and opportunity presented by Wejo's unique tech platform and innovation pipeline. Focused on harnessing data for good, we are working with multiple car manufacturers and end users to deliver better journeys for all."
Richard Barlow
CEO at Wejo
Investor perspective
"We are excited to lead this round as we recognise Wejo's huge potential and believe in the value it provides not just to car companies but also to end-user customers of its big data insights and analytics. We are confident Wejo is in the right position to take advantage of this clear opportunity to become a leader in the market, shake up the automotive industry, and enable the full digitalisation of mobility."
Riccardo Cirillo
Founding and Managing Partner, DIP Capital
Use of funds
- 01Expand into international markets
- 02Continue product development
