Sibros Closes $70 Million Series B Funding to Power the Connected Vehicle Ecosystem
25 Januar 2022 - 1:00PM
Connected vehicle platform company Sibros today announced its $70
million Series B funding round led by Energy Impact Partners (EIP)
with participation from Fontinalis Partners, Google (NASDAQ: GOOG),
Iron Pillar, Qualcomm Ventures and existing investors Nexus Venture
Partners and Moneta Ventures. The funding will be used to fuel the
company’s expansion to meet strong global demand and deliver large
customer deployments of its vertically integrated connected vehicle
platform.
As automakers have shifted to a new software-defined vehicle
paradigm, they must deliver fully connected products at rapid scale
across a complex ecosystem of suppliers, software, and data
dependencies. This complexity is further increased with the
numerous safety and security requirements that must be met along
the way. Keeping connected vehicles continuously updated while
collecting relevant data to improve product functionality are
challenging priorities with today's siloed approach to automotive
software, often supported by custom development and manual
work.
Sibros gives automakers a single source of truth and visibility
into all software and data for globally connected fleets while
automating workflows for full vehicle over-the-air software
updates, data collection and remote diagnostics in an industry
compliant manner. By connecting software and data seamlessly from
edge-to-cloud in one vertically integrated system, Sibros helps
automakers accelerate time-to-market, reduce code defects and
enable hundreds of connected vehicle use cases at global scale.
“Today is an incredible milestone for Sibros as we welcome some
of the most influential names invested in the future of clean
energy, cloud and autotech who join our mission of powering the
connected vehicle ecosystem with a vertically integrated solution,”
stated Hemant Sikaria, CEO and co-founder of Sibros. “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.”
“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,” said
Shawn Cherian, Partner at EIP, who joins the Sibros Board of
Directors. “Our investment in Sibros aligns with our pursuit of
partnering with companies that solve unique challenges at the
intersection of mobility and electrification.”Connected vehicle
technologies have been on the rise over the past decade yet remain
fragmented, requiring engineering and professional services to
integrate and support, working on limited sets of vehicle
architectures. Unlike these legacy solutions, Sibros’ solution runs
on any vehicle architecture, connecting all chips and sensors to
the cloud for holistic software management and rich data insights
with adherence to key functional safety, cybersecurity and data
privacy requirements. This flexible, compliant and
vertically-integrated approach helps OEM customers realize value in
weeks to quickly deploy deep connected capabilities across their
end-to-end brand portfolios. Customers using Sibros include a
fast-growing list of the world’s most established makers of cars,
trucks, buses, 2-wheelers and tractors, as well as disruptive new
EV startups in the solar and commercial space. For more information
or to get started with Sibros, visit www.sibros.com.
About SibrosSibros powers the connected vehicle
ecosystem with its Deep Connected Platform™ for full vehicle OTA
software updates, data collection, and diagnostics in one
vertically integrated system. DCP supports any vehicle architecture
- from ICE, Hybrid, EV to Fuel Cell - while also meeting rigorous
safety, security, and compliance standards. By combining powerful
automotive software and data management tools in one platform,
Sibros empowers OEMs to realize hundreds of connected vehicle use
cases spanning fleet management, predictive maintenance, data
monetization, paid feature upgrades, and beyond. For more
information about the Silicon Valley-based company, visit
www.sibros.com. About Energy Impact PartnersEnergy
Impact Partners, LP (EIP) is a global venture capital firm leading
the transition to a sustainable future. EIP brings together
entrepreneurs and the world's most forward-looking energy and
industrial companies to advance innovation. With over $2.0 billion
in assets under management, EIP invests globally across venture,
growth, credit, and infrastructure – and has a team of nearly 60
professionals based in its offices in New York, San Francisco, Palm
Beach, London, Cologne, and Oslo. For more information on EIP,
please visit www.energyimpactpartners.com. Media
Contacts:Albert LillySibros Technologies,
Inc.alilly@sibros.tech512-537-9417
Allie PotterSkyya PR for Sibros
allie@skyya.com218-766-8856
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