Conigital, a pioneering British driverless vehicle company with operations in Australia, Brazil, and India, has achieved an exceptional milestone by securing an offer of £500 million in Series A+ funding.
This transformative investment, a combination of equity and debt, results from a strategic partnership with a global Private Equity (PE) infrastructure firm, managing an impressive £150 billion in assets. The infusion of funds underscores Conigital’s unwavering commitment to revolutionising transportation through innovation, safety, and sustainability.
The £500 million Series A+ funding signifies a defining moment for Conigital, catapulting them to the forefront of the driverless technology sector. This achievement reaffirms their dedication to reshaping the mobility landscape for generations, positioning them as the highest-funded driverless vehicle startup in the UK and Europe.
In the final stages of due diligence and set to conclude by year-end, these funds will propel Conigital’s cutting-edge self-driving technology and driver safety products to new heights. This substantial investment unequivocally endorsed the industry’s recognition of Conigital’s technological prowess and potential to redefine transportation norms.
Don Dhaliwal, CEO of Conigital, stated, “Following over a year of discussions, we’re thrilled to secure an offer of £500 million in Series A+ funding. This monumental achievement signifies our unwavering commitment to transforming transportation and our remarkable growth and commercial success alongside a strong pipeline. This substantial capital infusion will empower us to attract top-tier talent, further develop our partner ecosystem, and execute an ambitious M&A strategy, propelling our expansion on both domestic and international fronts to realise our collective aspirations and exceed investor expectations.”
Central to Conigital’s innovation is their Hybrid Explainable AI and Simulation-first approach, complemented by their pioneering Remote Monitoring and Teleoperation (RMTO) platform through partnerships with industry-leading simulation pioneers IPG Automotive and others. This AI and simulation-first approach ensures scalability and rapid iteration and solidifies Conigital’s role in the driverless technology arena.
This strategy facilitates early commercialisation within closed and semi-closed environments such as Airports, Ports, Logistics yards, Industrial sites, and Smart campuses. This method underscores transparency in the decision-making processes of autonomous systems, fostering unwavering confidence and reliability amongst stakeholders.
Conigital’s accomplishments are further amplified through strategic academic alliances with esteemed institutions, including Coventry University, University of Essex and Queensland University of Technology. These partnerships and collaborations with global technology giants AWS and BT, who provide cutting-edge cloud and 5G communications infrastructure, contribute to a thriving ecosystem.
This robust ecosystem cements Conigital’s vanguard position at the forefront of innovation within the dynamic driverless technology domain.
While the funding process advances, Conigital is committed to ongoing projects. Conigital will initiate a bridge round of £12 million to bolster their existing commitments. This presents an opportunity for interested investors to play an integral role in their transformative journey. This bridge financing safeguards uninterrupted progress as Conigital approaches finalising more significant funds.
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