Driverless vehicle company Conigital has secured £500 million in Series A+ funding.

The funding, a combination of equity and debt, is the result of a strategic partnership with a global private equity infrastructure firm which manages £150 billion in assets.

In the meantime, Conigital will initiate a bridge financing round of £12m to bolster existing commitments. 

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Founded by Don-Paul Dhaliwal in 2015, Conigital is developing a full-stack ‘Lift and Shift’ driverless vehicle platform, ConICAV, for any vehicle type. It retrofits and custom-builds driverless vehicles for industrial and commercial fleets for various use cases. 

It says its simulation-first approach ensures scalability, rapid iteration and solidifies Conigital’s role in the driverless technology arena. It also facilitates early commercialisation within closed and semi-closed environments such as airports, ports, logistic yards, Industrial sites and smart campuses.

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Headquartered in Birmingham and operating in Australia, Brazil, and India, the company has established strategic academic alliances with Coventry University, University of Essex and Queensland University of Technology.

“Following over a year of discussions, we’re thrilled to secure an offer of £500 million in Series A+ funding,” said Don Dhaliwal, CEO.

“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.”

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