wejo raised €91M from General Motors

wejo, a Tattenhall, UK-based connected car startup secured €91 million ($103M) in a Series B funding round led by General Motors.

This includes an in-kind contribution worth over €60 million to get 35% stake in the startup. This funding round follows the Series A funding round of €13 million in 2018. With the latest round of funding, wejo’s valuation reaches €244 million.

wejo, founded in 2014 by Richard Barlow, offers an automotive data exchange platform delivering intelligent insights for insurers, car manufacturers and service provides. Currently, the startup tracks over 7 million vehicles in 180 countries totalling to 78 billion miles of data. This startup aims to have 28 million cars on its platform by 2020.