Conigital Elevates Self-Driving Vehicle Vision with £500 Million Investment, Accelerating Plans
Updated: Sep 13
Image credit: Conigital
British-based driverless vehicle company Conigital has just completed a monumental funding round, securing a staggering £500 million from Series A+ investors. This cash infusion is poised to supercharge the development of their cutting-edge self-driving technology, cementing their position as a trailblazing player in the autonomous vehicle landscape.
Conigital hailed the investment, announced yesterday, as an "exceptional milestone" for the company that will allow it to build on its previous expansion into Australia, Brazil, and India.
The investment encompasses both equity and debt and has been secured from an undisclosed global private equity infrastructure firm boasting £150bn of assets under management, according to Conigital.
The firm claims it is now the highest-funded driverless vehicle start-up in the UK and Europe.
Conigital's secret weapon? The power of AI. They harness AI technology to birth autonomous and electric commercial and industrial fleets, operating seamlessly within closed and semi-closed environments. Think ports, airports, campuses, and industrial sites. These controlled environments offer the ideal terrain for autonomous vehicles, avoiding the chaos of city streets where predicting human drivers and pedestrians can be arduous.
Their mission, driven by AI and machine learning, is to revolutionize efficiency and sustainability in the mobility and transport sector. One of their standout innovations is the 'Lift and Shift' driverless vehicle platform called ConICAV. This versatile marvel can be custom-built or retrofitted onto existing vehicles, catering to diverse needs.
Don Dhaliwal, Conigital's CEO, hailed the multi-million-pound fundraiser as a "monumental achievement," demonstrating the firm's commitment to transforming transportation and underscoring the "remarkable growth and commercial success."
"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 realize our collective aspirations and exceed investor expectations," Dhaliwal added.
But that's not all. Conigital's web of partnerships extends to leading simulation companies like IPG Automotive and prestigious academic collaborations with institutions such as Coventry University, the University of Essex, and Queensland University of Technology. These alliances, coupled with strategic partnerships with cloud and 5G giants like AWS and BT, cement Conigital's position at the forefront of innovation in the dynamic world of driverless technology.
In a remarkable achievement last year, Conigital showcased its autonomous prowess at Southampton Airport. A self-driving bus efficiently shuttled passengers from the long-stay car park to the terminal, offering a glimpse of the future of airport transportation.
Fast forward to this year, and Conigital is conducting a groundbreaking trial in the bustling Australian city of Dubbo, New South Wales. Here, a Ford pick-up truck has been transformed into an on-demand autonomous service, ferrying passengers from the airport to the city's heart. Conigital's reach knows no bounds, and its impact on the future of transportation is nothing short of groundbreaking.