Commsignia, a market leader in V2X (Vehicle-to-Everything) solutions, announced the closing of a $11 million fundraising round led by Karma Ventures (Estonia) and the Samsung Catalyst Fund (US), together with Partech (France), Inventure (Finland), and existing investors Credo Ventures (Czechia) and Day One Capital (Hungary). The company will strengthen its R&D capabilities and team for customer engagements to remain at the forefront of V2X innovations.
V2X is the base technology for creating Cooperative Intelligent Transport Systems (C-ITS), which improves road safety and traffic efficiency by using remote sensor data from other vehicles, infrastructure cameras and other sources to allow cars to see beyond their line of sight. V2X technologies enable drivers as well as self-driving vehicles to make safety decisions on the spot.
Commsignia is helping to build safer and more efficient everyday driving, as well as providing communication network for the next-generation autonomous car and smart mobility ecosystem, offering cutting-edge vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication technologies. Commsignia technologies connect vehicles with each other and the smart city infrastructure to enable autonomous vehicle functions while making everyday driving safer and more efficient.
More information about this fundraising round can be found at the company’s website.