Five, the self-driving startup, raises $41M and pivots into B2B, away from building its own fleet

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We are still years away from a time when fully-autonomous cars will be able to drive us from A to B, and the complexity of getting to that point is likely going to need hundreds of billions of dollars of investment before it becomes a reality.
Instead, it now plans to license its technology — starting with software to help test and measure the accuracy of a vehicle’s driving systems — that it has created to others building autonomous cars as well as the wider service ecosystem that will exist around that.
The high-profile startup, founded by a team that had previously built and sold several chip companies to the likes of Broadcom, Nvidia and Huawei, had been the leading partner for a big government-backed pilot project, StreetWise, to test and work on autonomous driving systems across boroughs in London.
Five might continue to work on research projects like these, Boland said, but the primary business aim for the company will no longer be ultimately to build cars for themselves, but to work on tech that will be sold either to other carmakers, or those building services catering to the autonomous industry.
“inventiva.co.in/tag/autonomous/”>Autonomous and assisted driving technology is going to play a huge role in the future of cars,” said Gus Park, MD of Motor Insurance at Direct Line Group, in a statement.
Five’s argument for why a UK — and indeed, European — startup was in a good place to build and operate self-driving cars, and the tech underpinning it, was because of the complexity behind building localised systems: a big US or Asian company might be able to map the streets in Europe, but it wouldn’t have as good of a feel for how people behaved on those roads.
“What’s happened in the last couple of years is that there has been an appreciation across the industry of just how wide and deep the challenges are for bringing self driving to market,” Boland said

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