Advertisement
UK markets close in 4 hours 9 minutes

  • FTSE 100

    8,087.62
    +47.24 (+0.59%)
     

  • FTSE 250

    19,698.41
    -20.96 (-0.11%)
     

  • AIM

    754.79
    +0.10 (+0.01%)
     

  • GBP/EUR

    1.1663
    +0.0019 (+0.16%)
     

  • GBP/USD

    1.2512
    +0.0049 (+0.39%)
     

  • Bitcoin GBP

    50,960.64
    -2,139.86 (-4.03%)
     

  • CMC Crypto 200

    1,350.27
    -32.31 (-2.34%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CRUDE OIL

    82.95
    +0.14 (+0.17%)
     

  • GOLD FUTURES

    2,341.50
    +3.10 (+0.13%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     

  • DAX

    17,952.17
    -136.53 (-0.75%)
     

  • CAC 40

    8,019.07
    -72.79 (-0.90%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

Microsoft, Sompo to invest $25 million in GM-backed startup Wejo

Reuters
Updated ·1-min read
Visitors stand in front of a display screen at Microsoft's new Oxford Circus store ahead of its opening in London

(Reuters) -Wejo, a British auto data startup backed by General Motors Co, said on Tuesday that Microsoft Corp and insurer Sompo Holdings Inc will invest $25 million in the company.

The investment comes as Wejo prepares to go public later this year through a reverse merger with blank-check company Virtuoso Acquisition Corp.

The deal was announced last month and valued the startup at $800 million including debt.

Microsoft and Sompo join General Motors and data analytics firm Palantir Technologies Inc as part of Wejo's private investment in public equity (PIPE) financing, which now stands at $125 million.

ADVERTISEMENT

Manchester-based Wejo organizes data from almost 11 million vehicles connected to the internet for clients such as GM, Hyundai Motor Co and Daimler.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)