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Birmingham Post
Birmingham Post
Business
Jon Robinson

Wejo in new hiring freeze and secures $16m boost in bid to cut cash burn

A Manchester-based connected vehicle data company has secured a boost worth almost $16m.

Wejo Group, which floated on the Nasdag last year in a move that valued it at $800m, has completed a self-arranged $15.9m private investment in public equity (PIPE).

It was anchored by Sompo International Holdings, one of its major commercial partners, as well as current investors and certain members of Wejo’s board.

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