FiveAI awarded multi-million pound grant

We are delighted to announce that Barclays Eagle Lab resident FiveAi have recently been granted £12.8m as a grant to subsidise their £23m project, StreetWise.

The Cambridge and Bristol based business leads the StreetWise project which also includes the Transport Research Laboratory, Oxford University, Transport for London and insurer Direct Line. The purpose of the project is to test driverless vehicles on London’s roads within two years specifically to test a “personal mobility service” for commuters to cut congestion and pollution, improve safety and free up parking spaces.

FiveAi have been based at our Cambridge Eagle Lab incubator since July 2016. Since becoming a member of Eagle Labs, they have completed a seed funding round of $2.7m, including investment from Amadeus Capital partners. They have also created seven new onsite jobs as their team continued to grow. 

Stan Boland, CEO of FiveAi recently appeared on the front cover of the Sunday Times Business and Money supplement to explain about the StreetWise project. Later in 2017, the BBC will highlight FiveAi’s work in an edition of their popular Horizon programme.

Stan Boland, CEO of FiveAi

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