Trustbridge Partners et al. in $41m series-B for FiveAI

The round also saw participation from existing investors Lakestar, Amadeus Capital Partners, Kindred Capital and Notion Capital.

Gus Park, managing director of motor insurance at Direct Line, will join the company's board.

The company will use the fresh capital to develop its vehicles and cloud-based technology further, according to a statement.

Lakestar held final closes for its two latest vehicles in February 2020, as reported by Unquote.

FiveAI marks Amadeus Capital's fourth investment of 2020, according to Unquote Data. The VC took part in the $150m series-D for Graphcore in February, as reported.

Previous funding
Amadeus Capital Partners led a $2.7m round for FiveAI in July 2016, with participation from Spring Partners and Notion Capital.

In September 2017, Lakestar led a £14m series-B round. Amadeus, Notion and Kindred also took part. The company also received £12.8m in government funding as part of its StreetWise project to promote the development and implementation of autonomous driving technology. The company began on-street driverless vehicle testing in the UK the following year.

FiveAI has received around $77m in funding so far, according to a statement.

Company
FiveAI was founded in 2015 and is based in Cambridge, with five further locations within the UK. The company develops AI-backed autonomous driving technology, based on a cloud platform to manage performance and scale for system development. FiveAI currently has eight fully-equipped self-driving vehicles and ran its latest public road tests in Bromley, south-east London, in 2019. It has 115 employees, according to LinkedIn.

People
Five – Stan Boland (CEO).
Trustbright Partners – Trustbridge Partners (partner).

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