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

  • Control rooms adapt to tech changes
    July 8, 2019
    From IP-based systems to an increasing array of choice, traffic and transit management has changed a lot in the last few years. Adam Hill talks to some of the leading players in the control room business
    Read More
  • Sanef wins Mersey Gateway Bridge Free Flow toll system
    April 28, 2014
    Sanef Group has announced the financial close of the Mersey Gateway project in the UK, after Halton Borough Council signed agreements with the Merseylink consortium for the construction and the maintenance of the new bridge and its associated toll system, as well as for the toll operation and demand management.
    Read More
  • First Smart Mobility Challenge winners announced
    March 22, 2012
    Vice-President Siim Kallas, European Commissioner for mobility and transport, has announced the winners of the first Smart Mobility Challenge on European multi-modal journey planners, to promote the development of all-in-one journey planners, going beyond national borders and offering travel options combining different transport modes. In the category of 'operational journey planners' the two winners are Idos and Trenitalia, and in the category of 'innovative ideas' the winners are Penelope Ventures and SNC
    Read More
  • Flir takeover of Traficon and the role of thermal imaging
    February 28, 2013
    Andy Teich, president of commercial systems at Flir, discusses the growing role of thermal technology in ITS and his company’s latest high-profile acquisition with Jason Barnes. Andy Teich, Flir’s president of commercial systems, doesn’t want to talk about infrared (IR). Instead, he’d prefer, he says, to discuss ‘thermal technology’. It is, he explains, to differentiate between the imaging technologies which his company specialises in and the LED illumination of IR cameras, an altogether different beast. Fl
    Read More

Highlighted Content