Lakestar leads £14m series-A for FiveAI

Existing investors Amadeus Capital Partners, Notion Capital and Kindred also took part in the round.

The company also received £12.8m in government funding as part of the StreetWise project to test autonomous vehicle technology on London's roads in 2019. Other collaborators in the StreetWise project include motor insurer Direct Line Group, McLaren Applied Technologies, the University of Oxford and TRL.

As part of the deal, Lakestar general partner Dharmash Mistry will take a seat on the FiveAI board of directors.

Previous funding
Amadeus led a $2.7m round of funding for FiveAI in July 2016, with Spring Partners and Notion Capital also taking part in the round. The funding was earmarked for recruitment, road testing and product development.

Company
Founded in 2015, Bristol-headquartered FiveAI develops 3D mapping software for use in autonomous cars. The product analyses and responds to road environments and situations, as well as anticipating the potential actions of surrounding vehicles.

People
FiveAI – Stan Boland (CEO).
Lakestar Capital – Dharmash Mistry (general partner).
Amadeus Capital Partners – Hermann Hauser (co-founder).

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