Mojio, an open platform for connecting cars, today announced it has closed an $8 million Series A funding round led by Telekom Capital, the investment arm of Deutsche Telekom.
Also participating in the round were Relay Ventures, BDC, and AOL cofounder Steve Case.
Funds will support the company’s US and international growth, the Canadian company says. Mojio says it wants to build the world’s most comprehensive app marketplace for cars.
“At Mojio we strive to deliver a continuous and ever-expanding relationship with our customers. Fundamentally, that is completely missing in today’s car ownership experience and is no surprise when nearly every car on the road is severed from the Internet,” said Jay Giraud, CEO. “With the strong support of Telekom Capital, we can now bring our vision for the Internet of Cars to drivers around the world.”
“This investment is the first outside of Europe for our latest fund. It fits right at the heart of what we are looking for: a scalable open platform addressing a gigantic market,” said Vicente Vento, CEO of Telekom Capital.
In 2013 the Vancouver startup raised a $2.3 million seed round.