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

  • Sprint to launch commercial 5G service ‘in May’
    March 22, 2019
    Connected technology firm Sprint is to launch a commercial 5G service in May. Atlanta, Chicago, Dallas and Kansas City will be the first of its nine markets, with Houston, Los Angeles, New York City, Phoenix and Washington, DC expected to follow by the end of June. The company has also created an interactive exhibition, the Sprint 5G Experience, at its Kansas HQ to explain how the communications protocol works and what difference it will make to people’s lives. Steve Gaffney, Sprint vice president
    Read More
  • Sales of microelectric vehicles will be boosted by 85 per cent by 2013
    May 29, 2012
    Greener agendas, emission-based taxation, parking charge exemptions, and mass-produced electric vehicles are all working together to increase the sales of microelectric vehicles to 0’118,000 units by 2017 within the North American market new analysis from Frost & Sullivan predicts. This represents a compound annual growth rate (CAGR) of 39.30 per cent between 2010 and 2017. By 2013, the total count of microelectric vehicles in North America is likely to increase to 150 types, with the introduction of 34 new
    Read More
  • Delphi to launch first coast-to-coast automated drive
    March 17, 2015
    UK automotive company Delphi Automotive will demonstrate the full capabilities of its active safety technologies with the longest automated drive ever attempted in North America. The coast-to-coast trip will launch near the Golden Gate Bridge in San Francisco on 22 March and will cover approximately 3,500 miles, finishing in New York. The journey will allow Delphi engineers to gather critical data and further advance the company’s active safety technology development in this rapidly growing segment of the a
    Read More
  • Zipcar and Houston launch first of its kind municipal EV car sharing scheme
    August 23, 2012
    Leading car sharing network company Zipcar has announced a new partnership with the city of Houston to launch a municipal electric vehicle (EV) fleet sharing programme, called Houston Fleet Share. Through this initiative, 50 existing city-owned fleet vehicles – including 25 Nissan Leaf EVs – will be outfitted with Zipcar's FastFleet proprietary fleet sharing technology for use by city employees across all departments.
    Read More

Highlighted Content