Connected Car
Wejo, a connected car data startup backed by GM and Palantir, plans to go public through a merger with special-purpose acquisition company Virtuoso Acquisition Corp. , Includes debt. The transaction will raise $ 330 million in Wejo revenue, including a $ 230 million cash donation from Virtuoso and a $ 100 million private investment in Public Equity (PIPE). Former strategic investors Palantir and GM supported the deal, according to Wejo. That investor deck..Wejo will be listed on the Nasdaq Public Exchange when the transactions scheduled for the third quarter are completed. Wejo works with automakers and Tier 1 suppliers to collect real-time data from sensors integrated into the vehicle.