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

  • Lagos to get mass transit system
    February 5, 2013
    Lagos, Nigeria, is about to get a mass transit system with a difference, which the manufacturer says will play its part in reducing congestion and air pollution in the city. For the first time in the country’s history of Nigeria, a cable car company, Ropeways Transport, is set to launch a cable car mass urban transit system in the nation’s commercial capital. Under the terms of a thirty-year franchise agreement between Ropeways Transport, the Lagos Metropolitan Area Transport Authority (LAMATA) and the Lag
    Read More
  • EU funding kick-starts EETS studies
    February 4, 2014
    The regional European Electronic Toll Services (EETS) initiative is about to be kick-started by over US$3 million of co-financing from the European Union TEN-T Program. A a series of studies aimed at deploying EETS on a cross-border regional scale, selected for funding under the 2012 TEN-T multi-annual programme, specifically cover the electronically tolled primary road network of seven member states: Austria, Denmark, France, Germany, Italy, Poland and Spain, and Switzerland, which receives no EU suppor
    Read More
  • Software is at heart of safe vehicle connectivity, says Qt Group
    September 15, 2023
    Connected vehicle safety isn’t just under threat from malicious actors exploiting code – it’s also about avoiding software faults that could result in harm to people, says Patrick Shelly of Qt Group
    Read More
  • Iteris wins contracts in Florida, Indianapolis and Kansas
    August 4, 2023
    Signal retiming programmes and ITS architecture updates are among the deals
    Read More

Highlighted Content