Commsignia Inc., a Santa Clara, CA-based Vehicle-to-everything solution provider, closed a financing round of undisclosed amount.
The round was co-led by OTP-Day One Seed Fund and Credo Ventures, two active investors in the Central Eastern European region.
The company intends to use the funds to expand the team and open up its field offices in major automotive regions of the world.
Led by CEO Jozsef Kovacs, Commsignia specializes in the research, development, manufacturing and distribution of Cooperative Intelligent Transportation Systems (C-ITS; also known as V2X or Car2X) including Vehicle-To-Vehicle (V2V), Vehicle-To-Pedestrian (V2P) and Vehicle-To-Infrastructure (V2I) communication technologies.
The company sells its hardware and media agnostic communication and application platform supporting DSRC, LTE and 5G networks to the automotive and smart infrastructure segments. It has established partnerships with automotive manufacturers and also participates in smart city deployments both in the US and Europe.
Commsignia Ltd., a subsidiary of the American entity, was founded Hungarian founders Kovacs, Laszlo Virag and Andras Takacs, who lead an engineering team based in Budapest, while managing customer relationships and project delivery in more than 15 countries on four continents.