Mojio the winner of the 2014 Tech CARS award for best OBDII device raised an $8 million Series A round led by Telekom Capital, the investment arm of Deutsche Telekom.
The money will help Mojio deploy United States and international growth and grow Mojio’s app marketplace for cars. Also participating in the funding are Relay Ventures, BDC, and AOL co-founder, Steve Case.
Mojio is the first investment from Telekom Capital’s EUR 500 million global fund.
Mojio has over 500 active developers producing automotive applications.
Mojio, announced connections are available worldwide through its global carrier agreement with AT&T.
When Mojio was first released the news release called it “sexy.”
Mojio is available on Amazon.com for $149 including the first year of service through AT&T. After that it costs $4.99 USD per month ($6.99 in Canada).
You should check compatibility because Mojio is not compatible with some cars such as some BMW X5 models.
Mojio claims it is the only open-platform, 3G+GPS cellular device and smartphone app that delivers a near real-time connected driving experience to drivers.
Notifications can let you know if your car being stolen, towed, driven too fast or too far or if you leave your headlights on. It also monitors where the teenager is driving. Drivers can share their cars’ location with selected contacts to let people see where and how far away they are, without having to text while driving
Mojio’s Drive Screen provides turn-by-turn directions, gas stations and nearby parking.
Future apps include parking payments, simplified car rental and home automation.
Competitors are Automatic Smart Driving Assistant