Albion injects £1.5m into SBD

The fresh capital will enable the company to undertake a recruitment drive and pursue an international expansion strategy, in addition to investing in new product development.

The automotive technology industry has attracted attention from venture capital firms in recent years. In H2 of 2016 alone, Amadeus Capital Partners led a $2.7m round of funding for 3D mapping software business FiveAI and 360 Capital Partners took part in a $15m series-B round for sensor systems developer Chronocam.

On the exit front, Atlante Ventures and Toscana Venture sold automotive safety hardware and software business Yogitech to Intel in April 2016.

Company
Headquartered in Milton Keynes and founded in 1997, SBD provides technology consultancy services to the automotive industry, with a particular focus on the vehicle connectivity, self-driving and automotive cybersecurity markets.

The company, which has additional operations in North America, Japan and India, said in a statement it had increased its revenues by 50% in the last financial year.

People
Albion Ventures – Robert Whitby-Smith (partner).
SBD – David Bell (CEO).

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