Mojio receives financing for connected-car hardware

Mojio has received $8 million led by Telekom Capital for its connected-car hardware with built-in connectivity and a GPS, which plugs into any diagnostic port. In many ways, Mojio’s hardware product is similar to products like Automatic, which also plug into a car’s diagnostic port to bring connected car features to any car. What sets Mojio apart from most of its competitors is that it includes built-in connectivity and a GPS in its unit while others typically rely on a Bluetooth connection with a smartphone for their more advanced features. Mojio also sees itself as an open platform, so developers can make use of the data from its device in their own apps. The company says that it currently has about 500 active developers on its platform.