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Deep connected vehicle platform Sibros has raised $12 million in Series A round funding, bringing total capital raised to over $15 million.
Led by Nexus Venture Partners, the funding also saw the participation of Moneta Ventures and Twin Ventures.
In a statement issued, Sibros said, “The fund will be used to expand its product offerings, customer engagement and for hiring in India and Silicon Valley.”
Founded by the former team of Tesla, Faraday, and Uber engineers, Sibros 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.
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 over-the-air (OTA) and at programmatic scale.
Speaking on the Fundraise, 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.”
“To stay ahead and enable new functionalities, OEMs must adopt a software-first approach throughout the entire vehicle lifecycle. Libros is privileged to have the trust of our customers to help drive this charge,” Sikaria added.
“The backbone of the Sibros platform is its Secured Deployment Manager for performing customizable software campaigns, fleet management, and systematic software/firmware rollouts via an all-in-one User Interface. Features include the ability to send OTA calibrations to electrical components, update vehicle configurations, improve diagnostics and perform predictive failure detection, as well as enabling new connected services such as usage-based insurance, driver personalization or in-vehicle payment for goods and services for food, parking and tolling,” the statement added.
Adding to the statement, 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.”
“We are thrilled to support this highly experienced team doing important work to support the future of mobility,” Abhishek added.