• About
  • Terms of Use
  • Privacy & Policy
  • Cookie policy
  • “press@ustechtimes.com”.
USTechTimes, Magazine & Review WordPress Theme 2017
  • Home
  • topics
    • All
    • AgTech
    • AI
    • Analytics
    • AR/VR
    • Biotech
    • Blockchain
    • Cars / autonomous vehicles
    • Clean tech / environment
    • Cloud infrastructure
    • Cryptocurrency
    • Data services
    • Developer tools
    • E-commerce
    • Education
    • Energy tech
    • Enterprise
    • Entertainment & sports
    • Security
    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Trending Tags

      • Advertising
      • AgTech
      • AI
      • Analytics
      • AR/VR
      • Biotech
      • Blockchain
      • Cars / autonomous vehicles
      • Clean tech / environment
      • Cloud infrastructure
      • Consumer health & fitness
      • Consumer products
      • Cryptocurrency
      • Data services
      • Developer tools
      • Distributed workforce
      • E-commerce
      • Education
      • Energy tech
      • Enterprise
      • Entertainment & sports
      • Fashion
      • Fintech
      • Food and beverage
      • Games
      • Gaming/eSports
      • Govtech
      • Hardware
      • Health & hospital services
      • Health IT
      • Human capital
      • Impact
      • Insurance
      • IoT
      • Local commerce
      • Lodging/hospitality
      • Logistics
      • Manufacturing
      • Marketing automation
      • Marketplaces
      • Material science
      • Media/content
      • Medical devices
      • Messaging
      • Network infrastructure
      • Parenting/families
      • Payments
      • Pharmaceuticals
      • Real estate/proptech
      • Retail
      • Robotics
      • SaaS
      • Sales and CRM
      • Security
      • SMB software
      • Social commerce
      • Social mobile
      • Space
      • Gaming/eSports
      • Travel
      • Games
    • Interview
    • Venture Capital
    No Result
    View All Result
    • Home
    • topics
      • All
      • AgTech
      • AI
      • Analytics
      • AR/VR
      • Biotech
      • Blockchain
      • Cars / autonomous vehicles
      • Clean tech / environment
      • Cloud infrastructure
      • Cryptocurrency
      • Data services
      • Developer tools
      • E-commerce
      • Education
      • Energy tech
      • Enterprise
      • Entertainment & sports
      • Security
      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Trending Tags

        • Advertising
        • AgTech
        • AI
        • Analytics
        • AR/VR
        • Biotech
        • Blockchain
        • Cars / autonomous vehicles
        • Clean tech / environment
        • Cloud infrastructure
        • Consumer health & fitness
        • Consumer products
        • Cryptocurrency
        • Data services
        • Developer tools
        • Distributed workforce
        • E-commerce
        • Education
        • Energy tech
        • Enterprise
        • Entertainment & sports
        • Fashion
        • Fintech
        • Food and beverage
        • Games
        • Gaming/eSports
        • Govtech
        • Hardware
        • Health & hospital services
        • Health IT
        • Human capital
        • Impact
        • Insurance
        • IoT
        • Local commerce
        • Lodging/hospitality
        • Logistics
        • Manufacturing
        • Marketing automation
        • Marketplaces
        • Material science
        • Media/content
        • Medical devices
        • Messaging
        • Network infrastructure
        • Parenting/families
        • Payments
        • Pharmaceuticals
        • Real estate/proptech
        • Retail
        • Robotics
        • SaaS
        • Sales and CRM
        • Security
        • SMB software
        • Social commerce
        • Social mobile
        • Space
        • Gaming/eSports
        • Travel
        • Games
      • Interview
      • Venture Capital
      No Result
      View All Result
      USTechTimes - Leading Startup and Technology News in the United States
      No Result
      View All Result
      Home Transportation / Mobility

      Auto data company Wejo chalks out a plan to go public with a reverse merger 

      USTechTimes Editor by USTechTimes Editor
      June 3, 2021
      Auto data company Wejo chalks out a plan to go public with a reverse merger 

      Auto data startup Wejo is backed by US giant General Motors.

      Share on FacebookShare on Twitter

      Manchester-based Auto data startup Wejo, backed by US giant General Motors, will go public through a reverse merger with blank-check company Virtuoso Acquisition Corp. With this deal, the British company will be valued at $800 million. The $800 million enterprise value for Wejo implies an estimated $1.1 billion pro forma equity value.

      Wejo’s deal with Virtuoso Acquisition Corp will raise $330 million in proceeds, the companies said. The agreement includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE). An extra $25 million could also be raised within the next month.

      Richard Barlow, chief executive and founder of Wejo, said: “The team at Virtuoso champions our vision to transform connected vehicle data into data for good, and we are proud to establish the market standard for collecting and aggregating that data. Insights developed by our data will make mobility safer, smarter, and more sustainable.”

      Backed by General Motors & Palantir Technologies 

       Investors in the PIPE include General Motors and data management company Palantir Technologies Inc, which billionaire Peter Thiel co-founded. The sizes of their investments or stakes have not been disclosed.

      Wejo’s existing shareholders will roll 100 percent of their existing equity into the combined company and will own approximately 64 percent of the issued and outstanding shares immediately following the closing of the business combination. The boards of Virtuoso and Wejo have each unanimously approved the proposed transaction, which is expected to close during the second half of 2021.

      Jeffrey D. Warshaw, chairman and chief executive of Virtuoso Acquisition Corp said, “Wejo is uniquely positioned to set the industry standard and realize the extraordinary potential in connected vehicle data, and we are confident that Wejo’s innovative platform, strong leadership, and proprietary data sets will set the company apart as the market for connected vehicles and their data continues to grow.”

      Related Posts

      • Cherre
        Real Estate Data Platform Cherre Raises $16m in Series A

        Cherre, the New York-based real estate data and analytics platform, has raised $16 million in…

      • Cohesity
        Amid Global Pandemic, Data Management Firm Cohesity Raises $250m

        Cohesity, a US data storage and enterprise software company with office in Singapore, announced raising…

      • BigID
        Data Privacy Startup BigID Raises Another US$50m To Launch New Products

        New York and Tel Aviv-based data privacy provider BigID has raised another US$50 million in…

      Tags: General MotorsIPOreverse backingVirtuoso Acquisition CorpWejo
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

      Related Posts

      Whisper Aero bags $32 million to muffle drone clatter
      Transportation / Mobility

      Whisper Aero bags $32 million to muffle drone clatter

      April 21, 2023
      Helm.ai bags $31 million to augment its commercialization efforts
      Transportation / Mobility

      Helm.ai bags $31 million to augment its commercialization efforts

      December 23, 2022
      Autonomous delivery vehicle startup, Starship Technologies bags $100 million in a month
      Transportation / Mobility

      Autonomous delivery vehicle startup, Starship Technologies bags $100 million in a month

      March 10, 2022
      Pony.ai is planning to go public to raise funds for future advancements
      Cars / autonomous vehicles

      Pony.ai is planning to go public to raise funds for future advancements

      July 6, 2021
      Elon Musk’s Tesla reveals high-end Model S ‘Plaid’ to fend off Mercedes and Porsche 
      Transportation / Mobility

      Elon Musk’s Tesla reveals high-end Model S ‘Plaid’ to fend off Mercedes and Porsche 

      June 15, 2021
      Reliance Industries acquired an additional stake in skyTran.
      Transportation / Mobility

      India’s Reliance Industries acquires additional stake in NASA incubated skyTran

      March 9, 2021
      No Result
      View All Result

      FREE NEWSLETTER

       

      PRODUCTS

      USTechTimes – Leading Startup and Technology News in the United States

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

      More from our network


      • ktd

      • atd

      • itd

      • ktt

      • kgd

      • kpp

      • ktp

      • kpoppost

      • ustechtimes

      Categories

      • Accelerator
      • Animation
      • Apple
      • Applications
      • Artificial Intelligence
      • Advertising
      • AgTech
      • AI
      • Analytics
      • AR/VR
      • About
      • Terms of Use
      • Privacy & Policy
      • Cookie policy
      • “press@ustechtimes.com”.

      © 2023 ustechtimes.com

      No Result
      View All Result
      • Home
      • topics
        • Advertising
        • AgTech
        • AI
        • Analytics
        • AR/VR
        • Biotech
        • Blockchain
        • Cars / autonomous vehicles
        • Clean tech / environment
        • Cloud infrastructure
        • Consumer health & fitness
        • Consumer products
        • Cryptocurrency
        • Data services
        • Developer tools
        • Distributed workforce
        • E-commerce
        • Education
        • Energy tech
        • Enterprise
        • Entertainment & sports
        • Fashion
        • Fintech
        • Food and beverage
        • Games
        • Gaming/eSports
        • Govtech
        • Hardware
        • Health & hospital services
        • Health IT
        • Human capital
        • Impact
        • Insurance
        • IoT
        • Local commerce
        • Lodging/hospitality
        • Logistics
        • Manufacturing
        • Marketing automation
        • Marketplaces
        • Material science
        • Media/content
        • Medical devices
        • Messaging
        • Network infrastructure
        • Parenting/families
        • Payments
        • Pharmaceuticals
        • Real estate/proptech
        • Retail
        • Robotics
        • SaaS
        • Sales and CRM
        • Security
        • SMB software
        • Social commerce
        • Social mobile
        • Space
        • Gaming/eSports
        • Travel
        • Games
      • Interview
      • Venture Capital

      © 2023 ustechtimes.com