Albion Ventures LLP (“Albion”), one of the largest independent venture capital investors in the UK, has announced a £1.5m investment in automotive technology specialists SBD.
· New investment will drive innovation in automotive technology
· SBD has grown revenues by 50% in past year
· Between 2016 and 2020, car manufacturers are predicted to spend €42 billion on connected car services and autonomous technologies
Headquartered in Milton Keynes with offices in North America, Japan and India, SBD are specialists in automotive technology, providing independent research, evaluation and strategic services to 95% of the world’s leading car manufacturers.
Having established a unique position in the sector, the company has recorded more than 50% revenue growth in the last financial year ended March 2016.
The investment comes at a time when the automotive technology sector is forecast to grow significantly. Between 2016 and 2020, car manufacturers are forecast to spend more than €42 billion on offering connected car services and higher levels of vehicle automation in the EU, USA and China.
SBD’s research and strategic services focus on three growth areas: vehicle connectivity, autonomous car technologies and automotive cybersecurity.
Albion’s investment will enable SBD to further scale its operations globally, add to its world-class team of specialists, and allow the development of innovative new ways of supporting the automotive industry.
David Bell, CEO at SBD said:
“We’re delighted to be working with Albion Ventures at this exciting time. Their team really understands our vision for the future and they have a long history of helping technology companies build on their success.”
Robert Whitby-Smith, Partner at Albion Ventures said:
About Albion Ventures
Albion Ventures LLP is a leading venture capital investor which has been managing investments in small unquoted UK companies since 1996. Albion Ventures has funds of £455 million under investment management or administration. In addition to six Albion VCTs, it also manages the UCL Technology Fund and provides administration services to Albion Community Power PLC and Albion Care Communities.
Albion Ventures invests between £0.25-10m in growing businesses within a variety of sectors including healthcare, technology, renewable energy, travel and leisure, and asset-based businesses. Our approach is to provide strategic advice as well as financial resources in order to realise the full potential of the business invested in and so create returns for our shareholders.
Albion Ventures is authorised and regulated by the Financial Conduct Authority.
Through independent research, evaluation and strategic support, SBD helps vehicle manufacturers and their partners create autonomous, more secure and better connected cars.
SBD has offices in Europe, North America, Japan and India. Founded in 1997, the company has established a unique position in the automotive industry through its large team of specialists in connected car technologies, advanced driver assistance and automotive cybersecurity. Their unrivalled knowledge and experience is trusted by 95% of the world’s leading vehicle manufacturers.