Ever parked your car and forgotten where it is, wanted up-to-date stats on the state of its mechanics, and wondered about how to cut down on filling up? There’s an app for that.
Vancouver company Mojio offers a combined hardware and software system that connects a driver’s car to the internet. By inserting a small flash drive-esque piece of hardware—also known as a dongle—into a port near the bottom of the steering wheel, the software can collect information about everything from your driver statistics (think speed, efficiency, and distance) to how well key components like the engine and battery are running. For passengers more inclined to look at their phone than the scenery, the dongle creates a WiFi hotspot, and for absent-minded drivers, its GPS tracking system gives an accurate map of where they left their car.
In short, Mojio means older car owners don’t need to trade in their vehicles to update their technology.
The company is one of Vancouver’s success stories. With funding already secured from giants like Amazon and T-Mobile, Mojio has been winning huge contracts and is expected to boast up to two million users by the end of 2018—a move that prompted the managing director of investor Kensington Capital, Rick Nathan, to declare that he had never seen another business with a similar growth rate.
Today (March 8), Mojio has announced that it’s received an undisclosed amount of capital from Iris Capital and Telus Ventures. That’s great news for the company, whose business model relies on co-operation with major telecom carriers.
Drivers currently get their hands on Mojio through their phone contracts. In the States, T-Mobile offers the dongle and the app free to all customers who sign up for a 24-month internet plan. In Canada, wireless carriers charge around $199 for the hardware and $10 to $15 a month for the service, with some adding in free roadside assistance for users—a deal that is often cheaper than calling towing companies. Mojio is currently partnered with Bell, Rogers, and Telus.
“We are thrilled Iris Capital and Telus Ventures are fueling this stage in our growth,” says Mojio CEO, Kenny Hawk. “After a breakthrough year connecting more than half a million cars to our platform, this strategic funding adds fuel to our tank as we drive toward additional launches with major mobile network operators globally.”
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