Deep connected vehicles platform Sibros on Monday 20th July, 2020 announced that it has closed Series A round of USD 12M funding. The round was led by Nexus Venture Partners. Other participants include Moneta Ventures and Twin Ventures. This round brings the total capital to over USD 15M.
The San Jose, California based company claims to utilize the funds to enhance customer engagement, expand product offerings and core teams in Silicon Valley and beyond.
About Company
Sibros platform manages and connects 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.
This 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 OTA (over-the-air) and at programmatic scale.
According to the Sibros, the start-up is working with OEMs (original equipment manufacturers) in India and plans to deploy the capital to expand presence and team in the country, especially in Pune and Bengaluru area. It has offices in San Jose, California, Sacramento as well as in Pune.
Talking about the funding, 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.”
Led by a team of former Uber, Tesla and Faraday engineers, Sibros empowers original equipment manufactures to remedy non-trivial software and hardware defects, control warranty reserve costs and monetize new connected vehicle apps and services.
Principal at Nexus Venture Partners, Abhishek Sharma, 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.”
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