Sibros raises $12 million

Connected vehicle platform company Sibros has closed $12 million in Series A funding led by Nexus Venture Partners with participation from Moneta Ventures and Twin Ventures. The new investment gives Sibros just over $15 million in total funding raised since the company was founded in 2018.

Led by a team of former Tesla, Faraday and Uber engineers, 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. This deep vehicle-to-cloud approach enables automakers to use one system for all use cases including 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.

In terms of insurance, Sibros makes the following case for OEMs – “Instead of allowing service providers to go directly to customers (e.g. Insurance companies utilizing ODB port dongles to capture driver behavioral data), OEMs increase value to the customer while monetizing data directly.”

“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.” – Hemant Sikaria, CEO of Sibros.

“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 Sharma, Principal at Nexus Venture Partners.