New Delhi: Deep Connected Vehicle platform company Sibros on Monday has closed $12 million in Series A funding led by Nexus Venture Partners with participation from Moneta Ventures and Twin Ventures, the company said in a press release.
The company will be using the fund to expand Sibros’ product offerings, customer engagement and core teams in Silicon Valley and beyond. The funding takes the total capital raised to over $15 million.
Sibros platform connects and manages all vehicle software inventory and configurations to orchestrate full in-vehicle firmware updates as well as deep data collection from every sensor and component for advanced analytics.
Deep vehicle-to-cloud approach enables automakers to use one system for all use cases, from delivering new connected apps and services to addressing software/firmware defects and critical updates — entirely over-the-air (OTA) and at programmatic scale, added the company.
Commenting on this new development, Abhishek Sharma, Principal at Nexus Venture Partners said, “Sibros has grown rapidly in a short time by building a unique software platform to help global automakers adapt to transportation mega-trends that are reshaping our global economy.”
He further added, “We are thrilled to support this highly experienced team doing important work to support the future of mobility.”
Hemant Sikaria, CEO of Sibros said, “The acceleration of the software-defined vehicle has thrown automakers into a chaotic new maze of software and data management complexity. In order to stay ahead and enable new functionalities, OEMs must adopt a software-first approach throughout the entire vehicle lifecycle. Sibros is privileged to have the trust of our customers to help drive this charge.”