Autotalks is a global leader in vehicle to everything communication solutions. The company was founded in 2008 and was a market pioneer for providing OEMs and comprehensive Vehicle to everything, or V2X solutions. Autotalks have produced chipsets that allow V2X communication to become a revolution in that it can provide that most advanced and secure solution that has been created for autonomous vehicles.
It was announced that Autotalks has completed their Series D round of work with $30 million in order to expand their operations on a world wide scale as well as speeding up the deployment of their technologies in order to improve the development of smarter autonomous vehicles. This new round of funding has come from some of the company’s existing investors including Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Liberty ventures and Delek Motors. There have also been investments from companies new to Autotalks including Israeli Institutions, Fraser McCombs Ventures, Vintage Investment Partners and Samsung Catalyst Fund.
The closing of this funding round has come soon after the Notice of Proposed Rulemaking issued by the US Department of Transportation. This notice dictates that in an attempt to improve road safety, a mandatory Dedicated Short Range Communication based V2V should be included in all light vehicles that hare sold in the US by 2023. In order to meet their targets, Autotalks will start their deployment of products will start in 2019. Autotalks are considered the most advanced chipsets and should be able to provide the products for this upcoming notice with their superior performance of communication, strong Cybersecurity and other competitive features such as the highest integration level. This means that the new regulations could be very fruitful for Autotalks.
The number of investors during the latest investment round for the company is a great success as it represents the confidence placed in their product and will be able to gain a leading market square that will be created when this new regulation come in.
