Tantalum Corporation, a London-based company working in the connected car industry, has raised £2.5m from Disruptive Capital Investments.
The company will use the new funds to boost its expansion in the US and is set to open an office in Silicon Valley’s Menlo Park.
Alongside the funding raised, Tantalum also received a £1.4m grant from the UK government to trial its Air.Car system across London and other UK cities suffering from pollution.
Ozgur Tohumcu, the CEO, commented on the news: “This expansion puts Tantalum at the forefront of the burgeoning connected car market, positioning us at the heart of conversations around technology innovation and industry direction.
“Disruptive Capital is a great partner who supports our vision to transform the automotive experience, bringing the benefits of advanced driver insights to the vast majority of drivers around the world.”
Lincoln Jopp, a partner at Disruptive Capital, explained why the firm had decided to back the company.
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“We are delighted that Disruptive Capital Investments Ltd has been given this opportunity to invest further in Tantalum, coming, as it does, on the back of the investment by Handysoft, the Korean automotive company, earlier in the year.
“At Disruptive Capital, we back great management and innovative technology which is disrupting markets; Tantalum has both and more besides. Tantalum is growing so fast, it’s hard to keep up; new offices and experts in Silicon Valley and Atlanta, new products, new contracts and new investment,” concluded Jopp.
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