Based out of London, Five is a self-driving technology company that began its first on-street driverless vehicle testing in the UK in August 2018. In the latest development, the UK company has raised $41 million (approx €37 million) in a Series B round of equity funding.
New & existing investors participated!
The round was led by new investors – Trustbridge Partners, Direct Line Group, and Sistema VC. Other existing investors, including Lakestar, Amadeus Capital Partners, Kindred Capital, and Notion Capital, also participated.
One of Europe’s best-funded self-driving startups!
To date, the company has raised $77 million (approx €69 million), making it one of Europe’s best-funded self-driving startups. This latest round of funding will be used to productize these vital offline cloud-based development platforms alongside high-value components of Five’s online vehicle software.
For the uninitiated, Five (Five AI Inc.) began developing its approach to self-driving technology in 2016, and a year later, secured the lead role in StreetWise, a UK government-aided development program in which Direct Line Group also contributed.