Connected vehicle platform company Sibros raises $70 Million in Series B
California based connected vehicle platform company Sibros announced its $70 million Series B funding round led by venture capital firm The post Connected vehicle platform company Sibros raises $70 Million in Series B appeared first on EVreporter.
California based connected vehicle platform company Sibros announced its $70 million Series B funding round led by venture capital firm Energy Impact Partners (EIP), with participation from Fontinalis Partners, Google, Iron Pillar, Qualcomm Ventures and existing investors Nexus Venture Partners and Moneta Ventures. The funding will be used to meet global demand and deliver large customer deployments of its vertically integrated connected vehicle platform.
Sibros provides automakers with a single source of truth and insight into all software and data for globally connected fleets, while also automating procedures for over-the-air software updates, data collection, and remote diagnostics, said a company statement. Also, their solutions help the automakers improve time-to-market, minimise code defects, and allow hundreds of connected vehicle use cases at a global scale by linking software and data from edge to cloud in one vertically integrated system, it added.
Sibros’ customer base includes legacy players manufacturing cars, trucks, buses, 2-wheelers and tractors, as well as EV startups in the solar and commercial space. Recently the company had announced that Bajaj Auto, the world’s most valuable two-wheeler company, has deployed its Deep Connected Platform on its flagship Chetak electric scooter.
“The past two years have been a period of extreme growth at Sibros as we track towards being deployed on many millions of vehicles and we’re thrilled to have the support of investors who believe in our team and understand the problem we are solving,” stated Hemant Sikaria, CEO and co-founder of Sibros.
“Sibros sits in the center of the connected and electrified vehicle future with its impressive team and disruptive product that makes automotive software and data work better together. Our investment in Sibros aligns with our pursuit of partnering with companies that solve unique challenges at the intersection of mobility and electrification,” said Shawn Cherian, Partner at EIP, who joins the Sibros Board of Directors.
The company statement added that Sibros’ solution can run on any vehicle architecture, connecting all chips and sensors to the cloud for holistic software management and data insights with adherence to key functional safety, cybersecurity and data privacy requirements.
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The post Connected vehicle platform company Sibros raises $70 Million in Series B appeared first on EVreporter.