Telematics system developer and MIT spinout Cambridge Mobile Telematics has raised $500m from Vision Fund that will be used for product development.

Cambridge Mobile Telematics (CMT), a US-based telematics technology provider spun out of Massachusetts Institute of Technology, secured $500m yesterday in an investment by Vision Fund, the $98.6bn fund managed by telecommunications and internet group SoftBank. CMT has built a telematics system that utilises mobile sensing, artificial intelligence and behavioural analytics technology to measure driving performance in…

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