Fosun led a round that included United Electronics and existing investor Direct Line, and the telematics technology provider will use the cash for hiring and product development.
China-headquartered conglomerate Fosun has led a £13m ($15.9m) funding round for UK-based telematics technology producer The Floow on Monday.
IT company United Electronics Group and insurance comparison platform Direct Line Group also participated in the round.
Founded in 2012, The Floow has developed telematics technology that uses geospatial technology to analyse driver behaviour, measuring and putting together factors such as speed, location and circumstances.
The systems are utilised by insurance companies that use them to track customer driving habits, lowering…
