The Vancouver-based company closed a Series B funding round led by Toronto-based Kensington Capital. Amazon’s Alexa Fund, BDC’s IT Venture Fund, Relay Ventures and Telus Ventures also participated. Mojio intends to use the money to increase hiring and focus on the technology for its devices, which are added to regular cars and track everything from mechanical issues to vehicle location. (Venture Beat)

Talking point: The funding round was first announced in November 2017 at US$23 million. The round took over two years to close, an atypically long period of time. Many of the investors are also Mojio customers, making the investments strategic to their businesses. Insurance company Assurant, for example, already offers vehicle protection, warranty services and roadside assistance, all of which would benefit from real-time data. T-Mobile and Telus Ventures both participated in the round while holding partnerships with Mojio. The federal government is giving competitor BlackBerry a $40-million grant, announced February 15, to help develop software for connected vehicles, while Mojio’s platform is adaptable to any standard vehicle.