General Motors is an automotive manufacturer that acquired a 35% stake in wejo as part of a strategic partnership.
Portfolio
2
companies
Envisics
Envisics develops dynamic holographic technology for automotive augmented reality displays.
Wejo
Wejo provides smart mobility cloud and software solutions for connected vehicles.
Matt Tsien
President
Matt brings automotive industry experience from senior roles at General Motors, including leading GM Ventures and GM China.
LinkedInThe funding round was led by Tarsadia Investments with participation from automotive leaders including Hyundai Mobis, General Motors Ventures, SAIC Capital, and Van Tuyl Companies.
"Enhanced in-car experience is the next automotive revolution that goes hand in hand with electrification and the development of autonomous vehicles. Our technology is class leading and is extremely well placed to meet current and future requirements."
General Motors acquired a 35% stake in the technology company as part of a round that values the business at $275m.
"This strategic partnership with GM represents a major step forward for wejo and puts us at the forefront of the connected car revolution. It’s a statement of intent from one of the biggest car manufacturers in the world. Connected car data is of enormous value, not least to drivers who will be able to use it to unlock an evolving number of benefits, whether that’s cheaper insurance and fuel or a place to park."
