DeepMap, a leading provider of high- definition (HD) mapping technology for autonomous vehicles, has announced that Generation Investment Management LLP 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 localisation 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.”
