SAN JOSE, Calif., Nov. 18, 2022 (GLOBE NEWSWIRE) -- Global Brain Corporation (Global Brain) has announced its investment in Sibros Technologies Inc. (Sibros) through its GB-VIII Growth Fund Investment Limited Partnership (GB-VIII). Energy Impact Partners, Google, Moneta Ventures, Nexus Venture Partners and Qualcomm Ventures are existing investors in Sibros, a company that creates connected vehicle ecosystems for a range of vehicles and architectures globally.
The fundraising, which was confirmed today, November 18, will be utilized towards strengthening Sibros’ presence in the Indian market and expanding overseas to Japan, both known as growing markets for connected vehicle infrastructures. Known for its Deep Connected Platform, which enables automotive manufacturers to effectively handle their growing reliance on software in all types of vehicles, Sibros’ products are famed to be hardware agnostic. Each of Sibros’ offerings work with existing vehicle hardware, providing a secure vehicle-to-cloud communication that enables updates to all downstream components and sensors.
The USA-headquartered firm also helps provide insight into any vehicle’s data from day zero to end of life, and abstraction of vehicle in the cloud allows new applications to be developed without requiring knowledge of vehicle hardware. Sibros’ product line includes Over-The-Air (OTA) Deep Updater, Deep Logger and Command Manager, and is deployed with leading OEMs globally. At present, the Sibros team is present across three continents, with plans to expand its presence in Japan and India, through the recent Global Brain fundraising.
To bolster the business case, growth in on-board software and autonomous driving are key drivers for Sibros’ existence and growth. The global connected vehicle market is projected to grow at 18 percent CAGR from USD 60 Billion in 2021 to USD 192 Billion in 2028.
Sibros is led by a team with strong technology and industry experience. CEO and Co-founder Hemant Sikaria led OTA updates and body and chassis firmware at Tesla. Key members of the leadership team have deep expertise in areas such as vehicle systems, software architecture, energy storage, data transfer and large-scale application design and implementation. The team has demonstrated exceptional execution with several customers across passenger vehicles, commercial vehicles and two-wheeler categories.
“We are excited by the quality of the team at Sibros and the traction of its product with customers. They have an incredible vision of powering connected vehicle ecosystems globally, and we look forward to partnering with them in this journey,” said Anjani Bansal, partner and India country head of Global Brain Corporation.
About Sibros
Sibros powers the connected vehicle ecosystem with its Deep Connected Platform™ for full vehicle OTA software updates, data collection, and diagnostics in one vertically integrated system. DCP supports any vehicle architecture - from ICE, Hybrid, EV to Fuel Cell - while also meeting rigorous safety, security, and compliance standards. By combining powerful automotive software and data management tools in one platform, Sibros empowers OEMs to quickly bring up dozens of new connected vehicle use cases spanning fleet management, predictive maintenance, paid feature upgrades, and beyond. For more information about the Silicon Valley-based company, visit www.sibros.com.
About Global Brain
Global Brain is an independent venture capital firm that supports startups on a global scale and aims to create new industries through intensive hands-on support, global ecosystem, and open innovation between startups and large corporations. We manage Corporate Venture Capital funds with 11 leading companies in each industry and our flagship funds, with assets under management exceeding 200 billion yen.
Sibros Media Contacts
Albert Lilly
Sibros Technologies, Inc.
alilly@sibros.tech
512-537-9417
Allie Potter
Skyya PR for Sibros
allie@skyya.com
218-766-8856