Conigital, a Birmingham-based driverless vehicle startup, has secured a whopping £500 million in Series A+ funding. This is a combination of equity and debt and is a strategic partnership with a global Private Equity infrastructure firm, managing an impressive £150 billion in assets.
This round signifies a defining moment for Conigital and reaffirms its dedication to reshaping the mobility landscape for generations to come. With this, the company achieves the highest-funded driverless vehicle startup in the UK and Europe.
The investment will propel Conigital’s cutting-edge self-driving technology and driver safety products to new heights. Conigital remains resolute in its commitment to ongoing projects. To bolster existing commitments, the company will initiate a bridge round of £12 million. This bridge financing safeguards uninterrupted progress as Conigital approaches the finalisation of larger funds.
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 not only our unwavering commitment to transforming transportation but also the remarkable growth and commercial success we’ve achieved 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.”
AI-powered driverless vehicle company
Founded by Don-Paul Dhaliwal in 2015, Conigital is developing a full-stack “Lift and Shift” driverless vehicle platform ConICAV™ for any vehicle type. It retrofits and custom-builds driverless vehicles for industrial and commercial fleets for various use cases.
Conigital’s innovation is their Hybrid Explainable AI and Simulation-first approach, complemented by their pioneering Remote Monitoring and Teleoperation (RMTO) platform. This AI and simulation first approach ensures scalability, rapid iteration, and solidifies Conigital’s role in the driverless technology arena. Also, it facilitates early commercialisation within closed and semi-closed environments such as airports, ports, logistic yards, Industrial sites, and smart campuses.
Headquartered in Birmingham and operating in Australia, Brazil, and India, the company has established strategic academic alliances with esteemed institutions, including Coventry University, University of Essex and Queensland University of Technolog, who provide cutting-edge cloud and 5G communications infrastructure, contribute to a thriving ecosystem.