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.
Wejo is a connected car data pioneer that partners with automotive manufacturers to organise and enhance streams of vehicle data. The company unlocks valuable insights for public and private sector organisations globally.
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.
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
