Cambridge Mobile Telematics (CMT) has secured $350 million from a strategic investment led by TPG and Allianz X, with participation from State Farm.
Morgan Lewis advised CMT on this transaction.
The transaction team consisted of Doug Kingston (Partner), Andrew Hamilton (Partner), Charles Condro (Associate) and Maha Ouni (Associate).
Khaitan & Co advised CMT on the Indian law aspects of the transaction, involving incentive plans for Indian employees.
The transaction team consisted of Monika Srivastava (Partner), Sanchit Agarwal (Partner) and Romit Kohli (Senior Associate), with assistance from Ritu Shaktawat (Partner) on direct tax aspects and Shabnam Shaikh (Partner) on regulatory aspects.
Cambridge Mobile Telematics (CMT) is the world’s largest telematics and AI company for safer mobility. The company’s AI-driven platform, DriveWell Fusion®, proactively identifies and reduces driving risk, leading to fewer crashes and injuries.
The new investors will accelerate CMT’s expansion in three key areas: scaling its global road safety platform, advancing AI models for real-time driving risk assessment and crash detection, and growing adoption of the new Universal Driving Score.
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