Tekcapital PLC’s (LON:TEK) shares jumped in early deals on Monday after its portfolio firm Guident launched its commercial website.
Guident, which is wholly-owned by Tekcapital, focuses on the development of autonomous vehicles software apps and counts the former head of General Motors Co’s (NYSE:GM) Cadillac division among its directors.
READ: Former General Motors' Cadillac boss joins Tekcapital's Guident as director
"Guident's mission is to enhance the safety, convenience and enjoyment of using autonomous vehicles (AV) by providing innovative mobile software applications with proprietary technology that addresses the convergence of AV, artificial intelligence and mobility", said Harald Braun, Guident’s chairman.
Dr Clifford Gross, chairman of Tekcapital, added: "We are delighted to see that Guident is on track with its development program. We believe that autonomous vehicles will help democratize transportation and that a great deal of this value will be facilitated by control of AV's with smartphone or smartwatch software apps."
Shares were up 10.6% at 6p.
--Adds share price--