Total amount raised
$85.5 Millions
Latest funding date
11/1/2022
Location
Sibros has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company's vehicle-to-cloud platform for software and data management in vehicles has garnered attention from key players in the investment community.
Keep reading to explore the intricacies of Sibros' fundraising journey and the investors backing this innovative platform.
What Is Sibros?
Sibros, founded in 2018, is headquartered in San Jose, California. The company was established by Hemant Sikaria and Mayank Sikaria.
Specializing in automotive software, Sibros offers a vehicle-to-cloud platform that integrates real-time data collection with software configuration management, remote updates, and diagnostic commands.
With a team of 101-250 employees, Sibros is dedicated to enhancing software-defined vehicle success through its innovative solutions.
How Much Funding Has Sibros Raised?
- Seed Round
- Amount Raised: $1M
- Date: December 2018
- Lead Investors: Moneta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their vehicle-to-cloud platform.
- Seed Round
- Amount Raised: $2.5M
- Date: July 2019
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their platform and expand their team.
- Series A
- Amount Raised: $12M
- Date: July 2020
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: $70M
- Date: January 2022
- Lead Investors: Energy Impact Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and support large customer deployments.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: Global Brain Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and innovating their platform.
Total Amount Raised: $85.5M
Current Valuation: Not publicly disclosed
Key Investors
- Global Brain Corporation
- Details: Global Brain Corporation is a venture capital firm based in Tokyo, Japan. They focus on investing in innovative startups across various industries.
- Investment Focus Areas: Technology, healthcare, robotics.
- Notable Investments: Mercari, SmartNews, Rapyuta Robotics.
- Energy Impact Partners
- Details: Energy Impact Partners (EIP) is a global investment firm that supports companies driving the transition to a sustainable energy future. They partner with innovative companies at the intersection of mobility and electrification.
- Investment Focus Areas: Energy, mobility, electrification.
- Notable Investments: Arcadia, ChargePoint, Stem.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across India and the United States. They focus on technology-driven businesses.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Postman, Delhivery, Druva.
- Moneta Ventures
- Details: Moneta Ventures is a venture capital firm based in California, focusing on early-stage companies. They invest in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, software.
- Notable Investments: eHealth, HomeZada, RocketFuel.
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated, a global leader in wireless technology. They invest in innovative startups that align with Qualcomm's strategic interests.
- Investment Focus Areas: Wireless technology, AI, IoT.
- Notable Investments: Zoom, Waze, Fitbit.
What's Next for Sibros?
As Sibros looks to the future, the opportunities are vast. The company is poised to expand its global presence, leveraging its connected vehicle platform to meet the growing demand for software-defined vehicles. With the automotive industry shifting towards more integrated and connected solutions, Sibros is well-positioned to support large-scale deployments and enable numerous connected vehicle use cases.
Future fundraising seems likely, given the successful Series B round and the increasing market potential. However, challenges such as ensuring data security, meeting safety regulations, and managing the complexities of connected vehicle technologies remain. Overcoming these hurdles will be crucial for Sibros as it continues to innovate and grow in this dynamic industry.
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