Conigital, a UK-based startup specializing in autonomous vehicle technology, announced securing a significant £500m funding offer last year. A UKTN investigation reveals that this funding round has not closed, and the company is dealing with severe financial challenges, including delayed salary payments and numerous employment tribunals. Conigital’s pitch decks indicate reliance on due diligence from a Big Four firm, but none currently acknowledges involvement. The startup has also withdrawn from taxpayer-funded projects worth £32.6m due to funding delays. Questions arise about the legitimacy of the funding claims as Conigital struggles to secure the promised investment, leading to skewed tech funding data for Birmingham.
Autonomous Vehicle Technology, Private Equity, Technology,United Kingdom, Europe
Doubts over autonomous vehicle startup’s £500m funding as staff go unpaid