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

  • Motown morphs into Mobility City
    August 7, 2018
    Detroit was once a byword for urban decay – but ITS America recently held its annual meeting there. This gave David Arminas a chance to assess how fast Motor City is moving down the road to recovery. Motor City, as Detroit is still called, was on its financial knees only five short years ago. The future looked bleak as the city and greater urban area bled jobs and population. It was on 18 July 2013 that Motown, as Detroit is also known, filed for Chapter 9 bankruptcy protection, the
    Read More
  • Ports are facing a digital sea-change
    March 24, 2021
    Next-generation cellular will revolutionise the ports and maritime sector. Its arrival is just in time, as the industry faces a variety of challenges which require new technological solutions
    Read More
  • Cop29 aims to boost deployment of zero-emission vehicles
    November 14, 2024
    A number of transport-related commitments have been made in Baku
    Read More
  • EV inductive charging set to gain traction
    June 13, 2014
    New analysis from Frost & Sullivan, Strategic Analysis of Inductive Charging for Global Electric Vehicles (EV) Market, finds that the total market for inductive charging is expected to experience a compound annual growth rate of 126.6 per cent from 2012 to 2020, with approximately 351,900 units likely to be sold. Inductive charging will account for 1.2 per cent of both public and residential charging in North America and more than 2.6 per cent in Europe. Residential charging will be the most popular method,
    Read More

Highlighted Content