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

  • Trends in automotive technology
    March 14, 2012
    Continental has become a leading player in vehicle technology and telematics. The firm’s executive board chairman Elmar Degenhart describes to Jason Barnes Continental’s views on the ‘megatrends’ of the automotive industry Strategic moves to diversify Continental’s business from rubber-related products began in the late 1990s with the acquisition of ITT Teves and its brake business. This brought on board know-how relating to the then new electronic stability control (ESC) systems which today form an import
    Read More
  • C-ITS in the EU: ‘A little tribal’
    April 1, 2019
    As the C-ITS Delegated Act begins its journey through the European policy maze, Adam Hill looks at who is expecting what from this proposed framework for connected vehicles – and why some people are insisting that the lawmakers are already getting things wrong here are furrowed brows in Brussels and Strasbourg as European Union legislators begin to consider the rules which will underpin future services such as connected vehicles. The idea is to create a regulatory framework to harmonise cooperative ITS
    Read More
  • C-ITS in the EU: ‘A little tribal’
    April 1, 2019
    As the C-ITS Delegated Act begins its journey through the European policy maze, Adam Hill looks at who is expecting what from this proposed framework for connected vehicles – and why some people are insisting that the lawmakers are already getting things wrong here are furrowed brows in Brussels and Strasbourg as European Union legislators begin to consider the rules which will underpin future services such as connected vehicles. The idea is to create a regulatory framework to harmonise cooperative ITS
    Read More
  • International Road Safety Awards: the winners
    March 4, 2019
    Road accidents are a major blight on the world’s highways - but some companies are attempting to stem the tide. David Arminas reports on the annual Prince Michael International Road Safety Awards
    Read More

Highlighted Content