Commsignia Announces Funding of USD 15M in Series B Round
SANTA CLARA, Calif., Sept. 5, 2023 /PRNewswire-PRWeb/ -- Commsignia, Inc., the largest company focusing on Vehicle-to-Everything (V2X) solutions, announced the closing of an USD 15 million Series B fundraising round led by PortfoLion Capital Partners, Inventure, Day One Capital and Inference Partners, together with Partech, Credo Ventures, and Karma Ventures. The fundraising round sees LG Electronics joining as a strong strategic partner along with existing strategic investors Samsung Catalyst Fund and Qualcomm Ventures. With this investment, the company 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.
- This new investment round brings Commsignia and its partners closer to significantly reducing the number of traffic fatalities and injuries.
- The fundraising round sees LG Electronics joining as a strong strategic partner along with existing strategic investors Samsung Catalyst Fund and Qualcomm Ventures.
- Their relentless pursuit of pioneering advancements in connected vehicle technology and the enormous market potential have made our decision to co-lead their Series B round very easy.
- "Commsignia is an important player in the V2X ecosystem, and we are happy to invest in their journey towards further growth and success."