Savari, Inc., a Santa Clara, CA-based auto tech company, raised $12m in Series B funding.
The round was led by Aviva Ventures, the corporate venture capital arm of international insurer Aviva plc., with participation from existing investors SAIC Capital, Flex, and an undisclosed strategic investor.
The company intends to use the funds to scale its global presence and integrate its software solutions with cellular platforms.
Led by Ravi Puvvala, CEO, Savari builds software and hardware sensor solutions for automotive car manufacturers, the automotive aftermarket and smart cities. The company’s cellular V2X solutions enable communication between vehicles, infrastructure and pedestrians with mobile devices to deliver enhanced safety for next-generation transportation initiatives, such as ADAS systems for autonomous and semi-autonomous driving vehicles. They capture and analyze data on vehicle performance and control in real-time, giving a more complete and accurate picture of driving conditions to ADAS systems.
Savari is headquartered in Santa Clara, Calif., and has offices in Detroit, Mich., Munich, Germany, Seoul, Korea and Bengaluru, India.
FinSMEs
24/04/2018