Autotalks, an Israeli supplier of vehicle to vehicle (V2V) communication for enhancing road safety, stated on Wednesday it raised $30 million in a late-stage financing round, giving $70 million its total raised to date.
It will use the funds to broaden operations and accelerate deployment of technologies for much safer autonomous cars.
The new funding consists of the company’s existing investors Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co Global Investment, Liberty Ventures and Israel’s Delek Motors, in addition to new investors consisting of Fraser McCombs Ventures and the Samsung Catalyst Fund.
The financing comes as the U.S. Department of Transport has stated that in an effort to boost road safety it will mandate V2V in all new light cars offered in the United States by 2023. To achieve this target, deployments will begin in 2019.
Autotalks’ innovation has been selected by numerous vehicle manufacturers.
