Conigital Funding, Investors & Competitors

Conigital has raised $612M across 2 funding rounds, most recently a $610M Series A in September 2023.

Last Conigital funding round

$610M

Series A · Sep 2023

Cumulative funding Conigital raised

$612M

across 2 funding rounds

Conigital Overview

About Conigital

Conigital is a UK-headquartered developer of AI-powered solutions for connected autonomous vehicles. Its ConiCAV platform integrates CAVs into public transport networks, optimizing fleet management and passenger services in cities like Cambridge and Bristol. Deployed in pilot projects with National Highways, the system enhances safety through predictive analytics and supports mobility-as-a-service models across Europe.


Founded

2015

HQ

United KingdomBirmingham

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Subscription

Conigital Funding History

Conigital has raised a total of $612M across 2 funding rounds.

Conigital's first fundraising round was a $2M pre-seed round in November 2020. The most recent completed round was a $610M Series A in September 2023.

Conigital funding rounds

Conigital funding rounds
DateStageRaisedDeal Summary
Sep 2023Series A$610MConigital, a Birmingham-based British driverless vehicle startup founded in 2015, announced in September 2023 that it had secured a £500 million Series A+ funding offer combining equity and debt from a global private equity infrastructure firm managing over £150 billion in assets. The company develops the ConICAV full-stack 'Lift and Shift' driverless vehicle platform, which retrofits and custom-builds autonomous vehicles for industrial and commercial fleets in closed environments like airports, ports, logistic yards, and campuses. It features remote monitoring, teleoperation, hybrid explainable AI, and simulation-first approaches, with operations in Australia, Brazil, and India, and partnerships with AWS, BT, Coventry University, University of Essex, and Queensland University of Technology. The funding positioned Conigital as the highest-funded driverless vehicle startup in the UK and Europe at the time, intended to support talent acquisition, partner ecosystem development, M&A strategy, and international expansion. CEO Don-Paul Dhaliwal highlighted the company's growth, commercial success, and strong pipeline as key to securing the deal after over a year of discussions. While awaiting due diligence completion by year-end 2023, Conigital launched a £12 million bridge round (later reduced to £500,000) to maintain project momentum. Subsequent reports in 2024 raised doubts about the £500 million funding materializing, noting staff going unpaid and the company withdrawing from Innovate UK projects after receiving £168,978. One source mentioned Conigital also raised £100M in debt financing. The company continued promoting the funding offer on its website while seeking bridge investments via SeedLegals.
Nov 2020Pre-seed$2M-

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Conigital Competitors

Conigital competitors include listed companies like EquipmentShare.com and WeRide, and private ones like Gatik, Glydways, UISEE and TuSimple.

Public and private companies comparable to Conigital
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GatikUnited StatesSan Francisco, CAPrivate--$700M-
GlydwaysUnited StatesSan Francisco, CAPrivate--$700M-
UISEEChinaBeijingPrivate--$1.1B-
TuSimpleUnited StatesSan Diego, CAPrivate--$1B-
EquipmentShare.comUnited StatesUnited StatesPublicly listed$4.4B$704M$4.6B1.8x
WeRideChinaChinaPublicly listed$102M($257M)$1.9B8.3x

Conigital Public Comps

Conigital is still privately-owned, but its public comps include Tesla, General Motors, Roper Technologies, Dassault Systemes, SAIC Motor, Aurora Innovation, Manhattan Associates, XPENG, Full Truck Alliance and WiseTech Global.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
General Motors$185B$15B1.0x1.0x12.1x8.5x
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
Dassault Systemes$7.2B$2.2B4.0x4.0x13.2x11.2x
SAIC Motor$98B$7.1B0.1x0.1x1.5x2.3x
Aurora Innovation$3M($786M)3957.3x1040.1x(15.1x)(15.5x)
Manhattan Associates$1.1B$288M11.2x10.6x42.2x29.7x
XPENG$11B$156M1.1x1.0x80.6x(74.9x)

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Common questions about Conigital

When was Conigital founded?Conigital was founded in 2015.
Where is Conigital headquartered?Conigital is headquartered in Birmingham, United Kingdom.
Is Conigital publicly listed?No, Conigital is a private company.
How much funding has Conigital raised?Conigital has raised $612M across 2 funding rounds.
What was Conigital's last funding round?Conigital's last funding round was a $610M Series A in September 2023.
Which companies are comparable to Conigital?Companies comparable to Conigital include Gatik, Glydways, UISEE, TuSimple, EquipmentShare.com and WeRide.

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