PALO ALTO, Calif., Nov. 01, 2018 (GLOBE NEWSWIRE) -- DeepMap, leading provider of high-definition (HD) mapping technology for autonomous vehicles, today announced that Generation Investment Management LLP (Generation) is a new investor in the company.
Generation is a sustainability-focused investment firm with offices in London and San Francisco. Generation’s Growth Equity team backs innovative businesses that will help drive the transition to a sustainable, low-carbon economy.
As a DeepMap investor, Generation joins prior investors Andreessen Horowitz, Accel Partners, GSR Ventures, Robert Bosch Venture Capital, and others. The amount of financing was not disclosed.
James Wu, CEO and Co-Founder of DeepMap, said: “DeepMap and Generation share the deeply-held belief that autonomous vehicles will lead to environmental and social benefits. We are delighted to work with the talented team at Generation. We consider Generation to be a value-added investor, whose insights and mission-aligned network will be of great advantage as we scale, especially in Europe.”
Lilly Wollman, Co-Head of Generation’s Growth Equity team, said: “DeepMap is perfectly placed to address the imminent needs of autonomous vehicles. These vehicles will require HD maps and localization modules which are real-time, scalable, economically-viable, and machine-readable, something which DeepMap can deliver through its unique approach. We are very excited to partner with one of the most technically impressive and experienced teams in the industry.”
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research, and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority. www.generationim.com
DeepMap’s mission is to accelerate safe autonomy by providing the world’s best autonomous mapping and localization solutions. We deliver the technology necessary for self-driving vehicles to navigate in a complex and unpredictable environment. We address three important elements: precise high-definition mapping, ultra-accurate real-time localization, and the serving infrastructure to support massive global scaling. The company was founded in 2016 and is headquartered in Palo Alto, Calif., with offices in Beijing, China. For more information, see www.deepmap.ai.
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