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

  • IBTTA seeks transportation innovation
    December 16, 2016
    IBTTA’s Patrick Jones contemplates the need for, sources of and constraints on transportation innovation. For years now, visionary thinkers and doers in the highway transportation community have been laser-focused on the role of innovation in addressing the most pressing mobility challenges.
    Read More
  • Global V2V penetration into new vehicles to rise by 2027
    June 13, 2013
    A new report from ABI research concludes that global vehicle to vehicle (V2V) penetration into new vehicles will increase from just over 10 per cent in 2018 to 70 per cent in 2027, with the EU, US, and Japan as key regions adopting V2V in the mid-term. “V2X market and regulatory dynamics vary greatly from region to region. While the US will decide whether or not to mandate V2X by the end of 2013 with implementation not expected before 2018, in Europe the Car 2 Car Communication Consortium (C2C-CC) has issue
    Read More
  • Wilco invests in StreetDrone delivery AV
    September 16, 2021
    High street retailer sees autonomous retail deliveries as part of its future customer offer
    Read More
  • New opportunities in a data-rich future
    March 19, 2014
    Jason Barnes looks at where the detection and monitoring sector is heading. In the future, there will be no such thing as an un-instrumented road. Just a short time ago, that could have been a quote from a high-level policy document but with the first arrivals of vehicles with 802.11p connectivity – the door-opener to Vehicle-to-X (V2X) applications – it’s a statement which has increasing validity. The technology which uses our roads will also provide information on road conditions but V2X isn’t the only
    Read More

Highlighted Content