Our vision, investor information and leadership team profiles
Word from Richard
Hi everyone, I hope you’ve had a great week. It’s been one to remember for us all at Wejo, mainly due to our great news with regards to Microsoft and Sompo coming onboard as strategic partners and investors. I penned an open letter with my full thoughts, which you can read here, but I must say, I’m extremely proud of all of the team for reaching this milestone and can’t wait to keep taking this business to new heights.
In other news, we released some new content, which the team has detailed below and announced some upcoming webinars that we will be involved with.
That’s it from me, but do read on to find out more about this week’s news.
See you next week!
Microsoft and Sompo Partnership Announcement
You have likely seen that this week, we announced an incredibly exciting new strategic partnership with Microsoft and Sompo International – they have also come onboard as investors in our business – which we’re tremendously excited about.
The addition of Microsoft as a strategic partner enables us to leverage their leading-edge capabilities in cloud technology, machine learning, artificial intelligence and data hosting & privacy, bringing new innovative services to the connected vehicle marketplace.
In terms of Sompo International, together we will be accelerating products and services that leverage connected vehicle data for drivers in Japan and across the APAC region, supporting in the achievement our ambitious, global growth plans.
This concludes our PIPE investment process and confirms that we have raised $125m in connection with the proposed business combination to fund our growth. In addition to the $230m raised from the Virtuoso SPAC, we expect gross proceeds of $355m upon consummation of the business combination, assuming no redemptions by Virtuoso’s public stockholders.
For more on this exciting news, read the press release at this link.
With many people recently finding out about Wejo due to our announcements in the past few months, we have created a series of films explaining who we are, what we do and how we are at the forefront of the biggest automotive revolution in the past century. They are illustrated beautifully by Carl, who brings it all to life through a ‘lightbox illustration’.
The first of these lightbox films, which gives an overview of our business and mission is available here.
#DataDrivenReview: Range Rover Evoque
The #DataDrivenSeries continued, with our Range Rover Evoque review. Jaguar Land Rover might be an iconic British brand steeped in heritage, but this car is kitted out with the latest connectivity and technological features.
Watch this review here and keep an eye out on our Instagram for more Data Driven content in the future!