Sibros raises USD 12 mn in funding led by Nexus Venture Partners

The series A round, which brings the total capital raised by the company to over USD 15 million, also saw participation from Moneta Ventures and Twin Ventures, a statement said. The funds will be used to expand Sibros' product offerings, customer engagement and core teams in Silicon Valley and beyond, it added.

Deep connected vehicle platform company Sibros on Monday said it has closed a USD 12 million funding (about Rs 89.7 crore) round led by Nexus Venture Partners. The series A round, which brings the total capital raised by the company to over USD 15 million, also saw participation from Moneta Ventures and Twin Ventures, a statement said.

The funds will be used to expand Sibros' product offerings, customer engagement and core teams in Silicon Valley and beyond, it added. 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, from delivering new connected apps and services to addressing software/firmware defects and critical updates — entirely over-the-air (OTA) and at programmatic scale. According to the company's website, Sibros has offices in San Jose, Sacramento and Pune. It is working with OEMs (original equipment manufacturers) in India, and plans to use the capital to expand its team and presence in India (specifically Pune and Bengaluru).

"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," Sibros CEO Hemant Sikaria said.