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- Conigital
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
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
Website
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
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Sep 2023 | Series A | $610M | Conigital, 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 2020 | Pre-seed | $2M | - |
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Start Free TrialConigital Competitors
Conigital competitors include listed companies like EquipmentShare.com and WeRide, and private ones like Gatik, Glydways, UISEE and TuSimple.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $700M | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $4.4B | $704M | $4.6B | 1.8x | ||
| Publicly listed | $102M | ($257M) | $1.9B | 8.3x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $185B | $15B | 1.0x | 1.0x | 12.1x | 8.5x | |||
| $7.9B | $3.2B | 6.1x | 5.7x | 15.2x | 14.6x | |||
| $7.2B | $2.2B | 4.0x | 4.0x | 13.2x | 11.2x | |||
| $98B | $7.1B | 0.1x | 0.1x | 1.5x | 2.3x | |||
| $3M | ($786M) | 3957.3x | 1040.1x | (15.1x) | (15.5x) | |||
| $1.1B | $288M | 11.2x | 10.6x | 42.2x | 29.7x | |||
| $11B | $156M | 1.1x | 1.0x | 80.6x | (74.9x) | |||
This data is available for Pro users. Sign up to see all Conigital competitors and their valuation data. Start Free Trial | ||||||||
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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