The company previously won QPrize’s Israel regional competition and was awarded US$100k in venture financing. As the QPrize Grand Prize winner, iOnRoad will receive an additional US$150k in convertible note funding from Qualcomm Ventures, the venture capital arm of Qualcomm Incorporated (NASDAQ: QCOM).
iOnRoad won against competition from the seven other regional winners Might Text, Everplaces, Pult, Touchair, Deck App Technologies, Easyworks and Zoop, which have each received US$100k (€100k in Europe) in venture financing.
Led by Alon Atsmon, CEO, and Dan Atsmon, CTO, iOnRoad provides a mobile app designed to help users improve driving in real-time. The app uses the smartphone’s native camera and sensors to detect vehicles ahead of their own, alerting drivers when they are in danger. VisualRadar maps objects in front of the driver in real time, calculating the user’s current speed using native sensors. As the vehicle approaches danger, an audio-visual warning pops up to warn the driver of a possible collision, allowing them to brake in time.