Safer Driving App Nexar Raises $10.5M in Series A Funding

nexarNexar, a San Francisco, CA- and Tel Aviv, Israel-based developer of a platform focused on improving driving behaviour, raised $10.5m in Series A funding.

The round was led by new investors Mosaic Ventures (deal explained here) and True Ventures, with participation from existing investors Aleph and Slow Ventures.

The company, which has raised a total of $14.5m to date, intends to use the funds to continue to expand operations.

Co-founded by CEO Eran Shir and CTO Bruno Fernandez-Ruiz, Nexar leverages artificial intelligence to provide a mobile app that aims to protect drivers on the road and avoid getting into tough spots, record all dangerous events while they drive and uploads them to the cloud. If users get into an accident, the software¬†will use the phone’s sensors to reconstruct it.
For Uber or Lyft drivers, Nexar protects themselves from drunk passengers with an internal facing camera mode.

FinSMEs

16/06/2016

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