Commsignia gets US$11m in new funding to advance V2X development

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One of the leading developers and suppliers of V2X (Vehicle-to-Everything) systems and equipment Commsignia Inc. has received new funding that will enable the company to strengthen its connected car R&D capabilities and team for customer engagements.

Commsignia is keen to remain at the forefront of V2X innovations that form the base technology for creating Cooperative Intelligent Transport Systems (C-ITS), which will improve road safety and traffic efficiency by using remote sensor data from other vehicles, infrastructure cameras, and other sources to allow cars to see beyond their line of sight. V2X technologies enable drivers as well as automated vehicles to make safety decisions on the spot. According to a study by the European Commission, C-ITS can help reduce the number of accidents by as much as 22% and can improve fuel consumption by 11%. Recognizing its impact on making transportation safer, Euro NCAP has added V2X to its standards roadmap with implementation expected in 2024.

Commsignia is helping to build safer and more efficient everyday driving, as well as providing communication networks for the next-generation autonomous car and smart mobility ecosystem, offering cutting-edge vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication technologies. The company’s technologies connect vehicles with each other and the smart city infrastructure to enable autonomous vehicle functions while making everyday driving safer and more efficient. Commsignia develops automotive OEM integrated software that supports functions related to V2X connectivity, security and applications, as well as aftermarket onboard unit (OBU) and roadside unit (RSU) systems for various smart city use cases.

Commsignia is a preferred partner of several automotive suppliers and is part of the largest urban V2X infrastructure deployment, which covers over 100 intersections in Las Vegas. Additional deployments using the company’s systems are operating in the USA, Asia, and Europe. Commsignia is the first V2X company to be certified by the OmniAir organization’s commercial, connected-vehicle certification conformance program. To help accelerate the company’s work, it has announced the closing of a US$11m fundraising round led by Karma Ventures and the Samsung Catalyst Fund, together with Partech, Inventure, and existing investors Credo Ventures and Day One Capital.

“Recent market developments in the automotive and smart city industry have confirmed that V2X and Cellular V2X became the key enabler of the new cooperative ecosystem that surrounds 5G and autonomous driving. With this investment, we aim at strengthening our leading position at the forefront of V2X and create innovative products that set new standards for connected and autonomous driving,” said Jozsef Kovacs, Commsignia’s CEO. “We will use this opportunity to accomplish our growth plans for the coming years. One of our key focus areas is R&D, where we plan to add 100+ engineers to our team and open up further local offices in the USA, Asia and Europe.”

Romain Lavault, general partner at Partech, commented, “We are proud to back this incredibly talented team in the emerging V2X space and could not be more excited about what they’re building. We believe that Commsignia products are already becoming an essential component of tomorrow’s mobility, with live deployments in vehicles and road infrastructure around the globe today.”

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Adam joined the company in 1994, and has been News Editor of TTT since 2009. In his other role as Circulation Manager, he helped create the original Traffic Technology International distribution list 23 years ago, and has been working on it ever since. Outside of work, he is a keen fisherman, runs a drumming band, and plays an ancient version of cricket.

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