Connected car startup raises $12 million

Connected car startup raises $12 million

Business news |
Connected vehicle platform startup Sibros has announced that it has closed $12 million in Series A funding.
By Ally Winning

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The company’s Deep Connected Vehicle platform enables advanced over-the-air (OTA) software updates and vehicle data collection for every ECU, software inventory management, preventive maintenance and more from a single solution. The funds, says the company, which is led by a team of former Tesla, Faraday, and Uber engineers, will be used to expand its product offerings, customer engagement, and core teams in Silicon Valley and beyond.

“The acceleration of the software-defined vehicle has thrown automakers into a chaotic new maze of software and data management complexity,” says Hemant Sikaria, CEO of Sibros. “In order to stay ahead and enable new functionalities, OEMs must adopt a software-first approach throughout the entire vehicle lifecycle. Sibros is privileged to have the trust of our customers to help drive this charge.”

The company’s platform connects and manages all vehicle software inventory and configurations to orchestrate full in-vehicle firmware updates as well as deep data collection from every sensor and component for advanced analytics. This deep vehicle-to-cloud approach, says the company, enables automakers to use one system for all use cases – from delivering new connected apps and services to addressing software/firmware defects and critical updates – entirely OTA and at scale.

The backbone of the Sibros platform is its Secured Deployment Manager for performing customizable software campaigns, fleet management, and systematic software/firmware rollouts via an all-in-one user interface. Features include the ability to send OTA calibrations to electrical components, update vehicle configurations, improve diagnostics, and perform predictive failure detection, as well as enabling new connected services such as usage-based insurance, driver personalization or in-vehicle payment for goods and services for food, parking, and tolling.

The latest funding round, which was led by Nexus Venture Partners with participation from Moneta Ventures and Twin Ventures, brings the company’s total capital raised to over $15 million.

Abhishek Sharma, Principal at Nexus Venture Partners adds, “Sibros has grown rapidly in a short time by building a unique software platform to help global automakers adapt to transportation mega-trends that are reshaping our global economy. We are thrilled to support this highly experienced team doing important work to support the future of mobility.”

Sibros

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