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

  • Peachtree to deploy C-V2X tech 
    June 21, 2021
    Peachtree says utility vehicles will demonstrate V2I direct communications
    Read More
  • Coming round again
    June 28, 2012
    A colleague of mine, Mike Woof, the Editor of World Highways magazine, recently attended an open day event at a major ITS research establishment, the object of which was to showcase how the use of in-vehicle ITS technologies could improve fuel consumption and reduce emissions. Mike's expertise brings him into daily contact with the types of plant and equipment used to build roads and, as he related to me afterwards, he'd gone to the event filled with enthusiasm and came away somewhat disheartened.
    Read More
  • Innovation Awards: A winning formula
    March 21, 2018
    The Intertraffic Innovation Awards are a major feature of this event: over 60 high-quality entries were received this year. So, what does it mean for a company that wins? Czech company Cross Zlin won the overall title at the last Intertraffic. Tomáš Juřík, chairman and CEO explained the impact it has had on the company.
    Read More
  • The weighty problem of truck routing enforcement
    March 17, 2015
    The growing impact of heavy commercial vehicles on urban and interurban highway infrastructures around the world is driving the need for reliable route access restriction and monitoring. The support role of enforcement is proving fertile ground for ITS development. Bridges are especially vulnerable – and critical in terms of travel delays. The US state of Oregon’s Department of Transportation (ODOT) operates what it claims is one of the country’s most aggressive truck route restriction enforcement programme
    Read More

Highlighted Content