DIP Capital injects £1.5m into Wejo

DIP Capital was established in February 2018 by Riccardo Cirillo. Its maiden fund, DIP Fund I, has €40m that can be deployed globally; the vehicle is sponsored by Platina Partners.

DIP's investment was part of a larger round that also included the majority of existing Wejo investors – the overall amount was not disclosed. The fresh funding will primarily be used to support the expansion of Wejo in the US market.

Wejo previously raised £5m in early 2018 from private investors. It had already raised a total of £20m over the previous two years.

Company
Wejo is a connected car voice and data platform founded in 2014 by Richard Barlow. It provides auto makers and smart transport providers with a marketplace for monetising their connected car data, creating new revenue streams.

It employs 150 people and has offices in Tattenhall, Manchester, and San Jose, California.

People
DIP Capital – Riccardo Cirillo (founder).

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