Wejo agrees $1.1bn deal with American acquisition company

Manchester-based connected vehicle data company Wejo is partnering with an acquisition company in a deal that values the company at around £780 million. Wejo will combine with Virtuoso Acquisition Corp on the US$1.1 deal, which it expects to deliver approximately $330m of gross proceeds, including $230m cash contribution from Virtuoso and a $100m fully committed […]

Wejo secures £30m more funding

The connected car technology company Wejo has secured an extra £30 million as it tries to put what’s being called “a bumpy year” behind it. The Telegraph reports that the Cheshire-based company, which collects location, speed and emissions data from vehicles, has had to cut 60 staff over the past year (around 30% of its […]

Wejo and Cosworth partner on connected car solution

The connected car data company Wejo is collaborating with automotive specialists Cosworth to identify and investigate intelligent mobility and vehicle data concepts. The companies say the initiative will help drive future innovations and “enhance the overall experience for the benefit of drivers and car manufacturers”. The companies will work on solutions based on Cosworth’s AliveDrive, […]

Wejo secures another £10m in funding

Chester-based CAV technology company Wejo has received a grant from the Government’s future fund to continue developing its data-sharing solution. It’s understood Wejo received up to £5 million from the Future Fund and the rest of the money from a variety of investors including General Motors. Wejo’s technology allows the sharing of huge amounts of […]