Conigital Secures Groundbreaking £500M Funding to Lead Driverless Vehicle Innovation

September 11, 2023

Conigital, a Birmingham-based driverless vehicle startup, has made waves in the tech world by securing a monumental £500 million in Series A+ funding. This significant investment, a combination of equity and debt, is the result of a strategic partnership with a global Private Equity infrastructure firm. The funding not only solidifies Conigital's position as a pioneering force in the UK and European driverless vehicle market but also marks a pivotal moment in the company's journey towards revolutionising transportation.

Led by CEO Don Dhaliwal, Conigital is on a mission to transform the mobility landscape through innovation and sustainability. The company specialises in developing a full-stack "Lift and Shift" driverless vehicle platform known as ConICAV™, which can be applied to any vehicle type. By retrofitting and custom-building driverless vehicles for industrial and commercial fleets, Conigital caters to various use cases, from logistics to smart campuses.

What sets Conigital apart is its innovative approach to driverless technology. The company employs a Hybrid Explainable AI and Simulation-first approach, complemented by a pioneering Remote Monitoring and Teleoperation (RMTO) platform. This strategy ensures scalability, rapid iteration, and early commercialisation within closed and semi-closed environments such as airports, ports, and industrial sites. By partnering with academic institutions like Coventry University and the University of Essex, Conigital leverages cutting-edge research and expertise to drive its technological advancements.

Furthermore, strategic alliances with global technology giants such as AWS and BT provide Conigital with access to state-of-the-art cloud and 5G communications infrastructure, enhancing its capabilities and fostering a thriving ecosystem. These partnerships underscore Conigital's commitment to collaboration and innovation in the dynamic driverless technology domain.

In a statement, Don Dhaliwal expressed his excitement about the company's latest funding milestone, highlighting the opportunities it presents for growth and expansion. He emphasised Conigital's dedication to attracting top-tier talent, developing its partner ecosystem, and executing an ambitious M&A strategy to realise its collective aspirations.

As Conigital prepares to finalise the larger funds, it has initiated a bridge round of £12 million to bolster existing commitments. This bridge financing ensures uninterrupted progress and presents an opportunity for investors to be part of Conigital's transformative journey.

Overall, Conigital's £500 million Series A+ funding marks a significant milestone in the company's trajectory. With its innovative technology, strategic partnerships, and unwavering commitment to revolutionising transportation, Conigital is poised to lead the way in the future of driverless vehicles, not just in the UK and Europe, but on a global scale.