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Wejo, a global leader in connected vehicle data, and Palantir Technologies (NYSE: PLTR) (“Palantir”) today detailed the early success of a new partnership aiming to solve the most ambitious problems of the mobility revolution. As the world moves at furious pace to reduce emissions, improve vehicle safety, and design resilient smart cities, Wejo and Palantir are looking to create an integrated data ecosystem for the automotive industry and beyond. The two companies discuss the partnership, Palantir’s investment in Wejo (which entered into a definitive agreement to merge with Virtuoso Acquisition Corp. (NASDAQ: VOSO)), and their progress to date in a video published today.
“The partnership between Wejo and Palantir is ultimately about delivering on the promise of connected vehicle data to improve the way we live, work, and travel for the better,” said Sarah Larner, Executive Vice President of Strategy & Innovation at Wejo. “It’s about putting our DataForGoodTM products and services to work, and making a safer and better transportation experience. The partnership is accelerating the invaluable connected vehicle data insights we can give.”
Connected vehicle data is vastly underutilized across the automotive industry, and needs to be turned into actionable intelligence in order to address the most pressing mobility problems of the day. Wejo collects and analyzes more than 16 billion data points per day in near real time across a network of 11 million live vehicles. To date, Wejo has ingested more than 10 trillion data points and 48 billion journeys from connected vehicles. The partnership aims to combine Wejo’s robust data asset with the power of Palantir’s Foundry platform to unlock a diverse set of use cases that will benefit society on a global scale. These use cases range from working with parts suppliers on component quality, to working with regulators in defining the future of autonomous driving, to helping city planners make data-driven investments in smart city infrastructure.
Together, Wejo and Palantir are expanding the perimeter of who can benefit from the billions of journeys taken by millions of connected vehicles around the world — beyond just drivers and OEMs — all while implementing robust access control and data provenance tracking to secure the ownership, security, privacy, and safety of data. The new data ecosystem will also allow OEMs and other stakeholders to discover the hidden value that lies within their data, spurring innovation, improving quality, and opening the doors for new products and services.
“Wejo is SaaS for the real world, therefore, it must account for the complexity of the real world with a massive connected vehicle data asset,” added Ted Mabrey, Head of Global Commercial at Palantir. “In this scenario, a cloud is not enough. Vast amounts of data require the robust, integrated infrastructure Foundry provides in order to deliver new solutions, opportunities, and accelerated growth.”
Through Wejo’s definitive agreement to merge with Virtuoso Acquisition Corp. (NASDAQ: VOSO), Wejo will become a publicly listed company later this year. Since announcing the merger, Wejo has established partnerships with a number of leading companies across several industries that have invested in the company. In addition to Palantir, Wejo has partnered with Microsoft (NASDAQ: MSFT) to bring the power of connected vehicle data to the commercial sector and enrich Wejo’s mobility intelligence portfolio; Sompo Holdings (TYO: 8630) to bring the power of connected vehicle data to the APAC region; and General Motors (NYSE: GM). Separately, Wejo also has business relationships with 17 automotive OEMs.