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

  • TRA 2018: Vienna conference highlights
    June 5, 2018
    Digitalisation of transport systems, the regulation of new technologies and more charging points for electric vehicles in cities were among the talking points at this year’s Transport Research Arena conference. Alan Dron sifts through the highlights in Vienna. More than 3,000 transport sector specialists converged on TRA 2018, where the four-day event’s agenda included scores of topics covering regulation, technology and the effect of the digitalisation of road transport systems. Who should control those
    Read More
  • euroFOT study demonstrates benefits of driver assistance systems
    June 26, 2012
    Today, the euroFOT consortium published the findings of a four-year study focused on the impact of driver assistance systems in the Europe. The €22 million (US$27.5 million) European Field Operational Test (euroFOT) project which began in June 2008 and involved 28 companies and organisations, was led by Aria Etemad from Ford’s European Research Centre in Aachen, Germany. The study looked at existing technologies and their potential to both enhance safety and reduce environmental impact. euroFOT also reveale
    Read More
  • €7.2bn 'green' upgrade for Italian motorway
    November 21, 2022
    The A22 between Modena and Bolzano will offer hydrogen filling and EV charging
    Read More
  • US eyes European model for Illinois toll road upgrade
    May 30, 2014
    David Crawford welcomes the adoption of European-style ITS technology by the US. The Jane Addams Memorial Tollway in Illinois, US is well on the way towards becoming a ‘smart traffic corridor’, taking full advantage of active traffic management (ATM or ‘managed lanes’) technology that originated in Europe. It is one of the first American toll roads to do so; preliminary work began in 2014 and will continue through to 2016. Jane Addams is one of four toll roads operated by the publicly-owned Illinois State T
    Read More

Highlighted Content