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

  • European ITS Congress emphasises ITS development and deployment
    February 6, 2012
    The 8th European ITS Congress is a key event for the industry. Hermann Meyer, CEO of Ertico-ITS Europe puts the event in context
    Read More
  • Joined-up thinking for future ITS
    May 8, 2015
    David Crawford looks at a US model which, for modest federal funding, is producing substantive results. Outward and upward is the clear message emerging from the US$458,000, 2015 workplan of the US government’s ENTERPRISE (Evaluating New TEchnologies for Roads PRogram Initiatives in Safety and Efficiency) joint funding scheme for ITS research.
    Read More
  • Modernising India's bus travel
    August 29, 2012
    Award-winning ITS initiatives are promising modernisation of bus travel as a key part of development plans for cities of the Indian state of Karnataka. The Indian state of Karnataka is poised to launch the next stage of a major rollout of ITS technology on its bus network following the August 2012 go-live of an award-winning passenger information system. The Karnataka State Road Transport Corporation (KSRTC), which is owned by the state government
    Read More
  • EU support for sharing field operational test data
    December 13, 2013
    The European Commission has granted funding of US$1.9 million of the total budget of US$2.5 million for the FOT-Net Data project, which aims to make traffic data collected in field operational tests (FOTs) more widely available to researchers. The three-year project will start in January 2014. The EU has supported a number of projects since 2008, enabling testing of the latest vehicle information technology in large-scale field trials. Drivers have been able to test the most promising prototypes or produ
    Read More

Highlighted Content