UK venture capital investor Albion Ventures has made a GBP1.5 million investment in automotive technology specialist SBD.
Headquartered in Milton Keynes with offices in North America, Japan and India, SBD provides independent research, evaluation and strategic services to 95 per cent of the world’s leading car manufacturers.
The company recorded more than 50 per cent 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 manufactures are forecast to spend more than EUR42 billion on offering connected car services and higher levels of vehicle automation in the EU, US 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 team of specialists, and allow the development of innovative new ways of supporting the automotive industry.
David Bell, CEO at SBD, says: “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, says: “We are really excited about the opportunity of backing the SBD team and their ambitious growth plans. The automotive sector is undergoing significant change and SBD is at the cutting-edge. The quality of its data and its talent puts it in pole position to grow rapidly in coming years.”
