Commsignia raises $15m in new funding round

V2X specialist has existing relationships with auto OEMs including Audi, VW and Ford
By Adam Hill September 8, 2023 Read time: 1 min
The new funding will help speed growth, firm says (© Melpomenem | Dreamstime.com)

Vehicle to Everything (V2X) specialist Commsignia has closed a $15 million Series B fundraising round, and LG Electronics has joined Samsung Catalyst Fund and Qualcomm Ventures as partners.

Commsignia has mass production deals with several automotive OEMs and is involved in research projects with Volkswagen, Audi of America and Ford.  

With the new cash, the company says it "aims to strengthen its leadership and grow faster in new markets and geographies as the digital transformation of the transport and automotive industry gains momentum".

It cites a study by the European Commission, which suggests cooperative ITS (C-ITS) can help reduce the number of accidents by as much as 22% and can help save on fuel consumption by 11%. 

Commsignia has V2X deployments in the US, including Las Vegas and Denver, as well as on European highways in Italy and Czechia (also known as Czech Republic).

The latest funding round was led by PortfoLion Capital Partners, Inventure, Day One Capital and Inference Partners, together with Partech, Credo Ventures and Karma Ventures. 

Detection, Monitoring & Machine Vision GIS/ Mapping & Location Based Systems

For more information on companies in this article

Related Content

  • Ouster Lidar aids German V2X plans 
    November 3, 2021
    Researchers built 60 mobile measuring stations to be deployed across a 4.3km stretch
    Read More
  • Indra leads European big data project
    March 21, 2017
    Technology firm Indra is leading the R&D&i Transforming Transport project, which aims to demonstrate how the use of data may improve management and services rendered to clients in the logistics and transport sector, through 13 large-scale pilots in different countries and transport modes. Funded by the European Commission under Horizon 2020 program, the project includes 47 partners from Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, United Kingdom and Spain, including some of
    Read More
  • Global toll revenues $8.5bn while technology ‘battles’ continue
    April 9, 2014
    ABI Research’s Dominique Bonte talks to Jason Barnes about trends in tolling and how a wider appreciation of technology options is sorely needed. Global Electronic Toll Collection (ETC) solution revenues will grow to $8.5bn by 2018, with ETC becoming a main source of funding for both Intelligent Transport Systems (ITS) and Vehicle-to-X (V2X) cooperative infrastructures, according to a new report from ABI Research (Chart 1). But, says the report’s author, ABI Research vice president and practice director Dom
    Read More
  • Peer-to-peer car sharing expected to become the next big thing in the market
    October 22, 2013
    Frost & Sullivan’s recent customer research study on car sharing in select European cities reveals that the market is fast gaining ground. Residents in a number of cities in France, Germany as well as in the UK are currently multi-modal transport users. While only one out of four claim familiarity with the car sharing concept, once familiar, the interest levels in these services zip to 38 per cent.
    Read More

Highlighted Content