Tekcapital PLC (LON:TEK) said its portfolio company Guident has made four significant new hires, including the appointment of Harald Braun as chairman and chief executive.
He was previously CEO of both Siemens Networks USA and Aviat Networks as well as serving as a senior executive at Nokia Siemens Networks, North America.
Guident, which develops technology for autonomous vehicles and drones, also announced the appointment of Daniel Grossman as chief revenue officer; Michael Trank as vice president of software development; and Dr Gabriel Castaneda as lead architect of artificial intelligence software.
Grossman previously helped create General Motors’ mobility division and was vice president of Zipcar, the vehicle hire service.
In the same announcement, Guident said it had received a notice of allowance for its patent titled “Methods and Systems for Emergency Handoff of an Autonomous Vehicle” and it has filed a further patent - "Intelligent Remote Monitoring and Control of Autonomous Vehicles”.
It now has five separate intellectual properties focused on improving the safety of autonomous vehicles (AV) and land-based delivery drones.
The market for AVs will be worth US$556bn by 2026 and is growing at a compound annual rate of 39%, according to data from Allied Market Research.
Guident is one of a number of portfolio companies of Tekcapital, which is focused on “creating marketplace value from investing in university technology”.