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The deal will raise $330 million in proceeds for Wejo, the companies said. That includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE). 1 U.S. automaker GM, which previously invested in Wejo, as well as data management company Palantir Technologies Inc, which billionaire Peter Thiel co-founded, Wejo and Virtuoso said. The $800 million enterprise value for Wejo implies an estimated $1.1 billion pro forma equity value. On Feb. 1, Wejo's Israeli rival Otonomo said it would go public in a SPAC merger with Software Acquisition Group Inc II.