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

Related Content

  • December 15, 2022
    Onomotion raises €6 for urban mobility
    Berlin tech company's e-cargo bike is designed to make last-mile solutions easier & greener
    Read More
  • July 16, 2021
    Bringing the Internet of Mobility to life
    As we chart our route to the ITS World Congress in Hamburg, a recent Ertico-ITS Europe webinar explored the future of connectivity including policy, infrastructure and security
    Read More
  • February 1, 2019
    Bridgestone Europe buys TomTom Telematics in €910m mobility deal
    The telematics business of data provider TomTom is to be snapped up by the European arm of Bridgestone in a €910m cash deal. Part of the Bridgestone Corporation tyre empire, Bridgestone Europe says the deal will speed up its “journey to becoming a mobility solutions leader in the region”. Bridgestone is making fleet solutions a “strategic priority”. In a statement, the company said: “New social, economic and technological megatrends are pushing the pace of change in the automotive industry and the fut
    Read More
  • December 16, 2014
    Do satellites provide a heavenly view of tolling’s future?
    Satellite-based tolling opens up new options for authorities and can be integrated with DSRC systems as David Crawford discovers. As the proud custodian of the European Union (EU)’s longest road network covered by a single (truck) charging scheme – and the only one to include all major roads - Slovakia has become the continent’s poster-nation for the virtues of GNSS/CN (Global Navigation Satellite System/Cellular Network)-based tolling. It is also proved to be a very fast implementer. Speaking at the 2014 I
    Read More

Highlighted Content