V2V communication expected to be deployed in US in new vehicles starting in 2019; Funding follows major design wins with leading Tier-1s and OEMs
Kfar Netter, Israel, March 22, 2017 – Autotalks, the global leader in V2X (Vehicle to Everything) communication solutions, announced today the completion of its Series D round with $30 million to expand its worldwide operations and accelerate deployment of technologies for safer and smarter autonomous vehicles. The new funding round includes the company’s existing investors: Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co. Global Investment, Liberty Media’s Israeli Venture Fund and Delek Motors, as well as new financial investors: Israeli institutions, Fraser McCombs Ventures, Vintage Investment Partners and Samsung Catalyst Fund.
The closing of the funding round came at the heels of a USDOT (US Department of Transportation) issued NPRM (Notice of Proposed Rulemaking) that, in an effort to increase road safety, will mandate DSRC (Dedicated Short Range Communication) based V2V in all new light vehicles sold in the US by 2023. To meet this target, deployments will start in 2019. Autotalks’ products are the most advanced chipsets addressing this new upcoming regulation, with superior communication performance, strongest Cybersecurity, highest integration level, and many competitive features. Autotalks already ramped up its production capabilities and was selected by several leading car manufacturers to supply their V2V solution.
“We are very pleased with the completion of this financing round, supported by such strong syndicate. It demonstrates clear vote of confidence in Autotalks’ ability to execute and gain a leading market share,” said Hagai Zyss, Autotalks’ CEO. “Our mission to equip vehicles with such lifesaving technology is now being adopted by the regulators and leading car manufacturers. I believe our chipsets will soon be part of most new vehicles worldwide.”
Autotalks, founded in 2008, is a V2X-chipset market pioneer and leader providing OEMs, Tier-1 and Tier-2 customers with comprehensive V2X solutions. Autotalks’ chipsets enable the V2X communication revolution by providing the most advanced, truly secure V2X solution created for autonomous vehicles. The chipsets are pre-integrated and designed to shorten development schedules and reduced costs. Autotalks’ cutting-edge technology addresses all key V2X challenges: communication reliability, security, positioning accuracy and vehicle installation.
About Autotalks’ Chipset
In 2016, Autotalks released its 2nd generation chipset. This chipset meets the strictest automotive reliability requirements. It also offers the highest level of security with multiple defense layers. The layers include secure boot, secure low-latency signing, line-rate verification of the entire V2X communication link and V2X firewall hardening the communication. Autotalks’ cryptographic-agile security engines support field upgrade to future algorithms for assuring security for decades.