Conigital secures £500m in Series A+ funding for autonomous vehicle development.
The Birmingham startup has raised £500m in equity and debt through a partnership with a global private equity infrastructure firm.
Birmingham-based autonomous vehicle technology developer specialising in retrofit and custom platforms for commercial and industrial fleets.
Birmingham-based autonomous vehicle startup Conigital has secured £500m in Series A+ funding through a combination of equity and debt. The investment comes via a strategic partnership with an international private equity infrastructure firm managing £150bn in assets.
The capital will support the ongoing development of the company self-driving technology and driver safety products. Conigital also plans to launch a £12m bridge round to maintain continuity ahead of larger capital finalisations.
The funding follows more than a year of discussions and positions the business as a prominent player in the autonomous transport sector across the UK and Europe.
From the founder
"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."
Don Dhaliwal
CEO at Conigital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
- 04Fund acquisitions