Canada-based connected car platform Mojio received C$30m ($23.3m) in a series B round yesterday that included commitments from e-commerce group Amazon, telecoms firm Deutsche Telekom and energy firm Innogy.
The corporates invested through their respective investment subsidiaries Alexa Fund, Deutsche Telekom Capital Partners and Innogy Ventures. The round was led by Kensington Capital.
BDC IT Venture Fund, an investment vehicle of state-owned economic development agency Business Development Bank of Canada, also participated, as did Relay Ventures and Trend Forward Capital.
Mojio has built a cloud-connected device that enables traditional cars to be upgraded to include modern day features such as the ability to track its location and gain an insight into fuel levels through a smartphone app or through Amazon’s voice assistant Alexa.
The cash will allow Mojio to accelerate its global expansion and to drive product and patent development. The company claims its technology has been installed in more than 500,000 vehicles to date, ranging from cars built as far back as 1996.
Mojio previously closed a $15m series A round in December 2016 after the Alexa Fund supplied a $7m extension. The initial tranche was led by Deutsche Telekom Capital Partners in 2015, with participation from BDC IT Venture Fund, Relay Ventures and private investor Steve Case.