Vancouver-based Mojio has raised an undisclosed amount of funding from Iris Capital and Telus Ventures.
The funding is a top up from Mojio’s $30 million funding round announced in November 2017.
“We are thrilled Iris Capital and Telus Ventures are fueling this stage in our growth,” said Mojio CEO, Kenny Hawk. “After a breakthrough year connecting more than half a million cars to our platform, this strategic funding adds fuel to our tank as we drive toward additional launches with major mobile network operators globally.”
Mojio’s software allows older vehicles to become connected cars, with analytics delivered to a user’s smartphone. It’s connected over 500,000 vehicles via its portfolio of mobile network operator customers, including Deutsche Telekom, T-Mobile US, and Telus.
Mojio is the first international investment outside of Europe for IrisNext, Iris Capital’s latest $280 million fund supported by Orange, Publicis Groupe, Valeo, BRED, and Bpifrance. The investment is set to fuel Mojio’s growth in Europe.
Mojio is currently powering Telus’ connected car serviced called TELUS Drive+.
“TELUS’ connected car strategy builds upon our successful Internet of Things (IoT) business which includes developing innovative solutions for both the business and consumer markets across Canada,” said Rich Osborn, managing partner at Telus Ventures. “Through venture investments in emerging technology leaders like Mojio, we not only bring better solutions to market more quickly for our customers and drive better connections, but also help propel the Connected Car market in Canada and internationally with complementary telecom carriers around the world.”