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September 13, 2023

Conigital Accelerates Towards the Future with £500 Million Funding Boost

Birmingham-based driverless vehicle startup has secured a whopping £500 million in Series A+ funding

In a groundbreaking move, Birmingham-based driverless vehicle startup, Conigital, has secured a staggering £500 million in Series A+ funding, a fusion of equity and debt, through a strategic partnership with a global Private Equity infrastructure firm overseeing an impressive £150 billion in assets. This monumental milestone solidifies Conigital's position as the UK and Europe's most generously funded driverless vehicle startup.

This infusion of capital marks a pivotal moment for Conigital and underscores its unwavering commitment to reshaping the future of mobility for generations to come. With this significant financial backing, the company is poised to propel its cutting-edge self-driving technology and driver safety products to new heights.

Conigital remains steadfast in its dedication to ongoing projects, ensuring uninterrupted progress. To bolster these existing commitments, the company is embarking on a bridge round of £12 million. This bridge financing serves as a safeguard, ensuring seamless advancement as Conigital approaches the final stages of securing larger funds.

Don Dhaliwal, CEO of Conigital, expressed his enthusiasm, stating, "After more than a year of discussions, we are thrilled to secure an offer of £500 million in Series A+ funding. This momentous achievement not only reflects our resolute commitment to revolutionizing transportation but also highlights the remarkable growth and commercial success we have achieved, along with a robust pipeline of opportunities."

He continued, "This substantial capital injection empowers us to attract top-tier talent, further expand our partner ecosystem, and execute an ambitious M&A strategy. This positions us for expansion on both domestic and international fronts, allowing us to realize our collective aspirations and exceed investor expectations."

Founded by Don-Paul Dhaliwal in 2015, Conigital is at the forefront of developing a comprehensive "Lift and Shift" driverless vehicle platform known as ConICAV™, designed to retrofit and custom-build driverless vehicles for a range of industrial and commercial fleets across diverse use cases.

A key differentiator lies in Conigital's innovative approach, combining Hybrid Explainable AI with a Simulation-first strategy. This, coupled with their pioneering Remote Monitoring and Teleoperation (RMTO) platform, ensures scalability, rapid iteration, and solidifies their pivotal role in the driverless technology landscape. It enables early commercialization in closed and semi-closed environments such as airports, ports, logistics yards, industrial sites, and smart campuses.

Headquartered in Birmingham with operations extending to Australia, Brazil, and India, Conigital has forged strategic academic partnerships with esteemed institutions, including Coventry University, University of Essex, and Queensland University of Technology.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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