Nexar, a NYC-based AI computer vision company, raised $53m in Series D funding.
The round was led by Qumra Capital with participation from State Farm Ventures, Catalyst Investments, Banca Generali, Valor and previous backers; Atreides Management, Corner Ventures, Regah Ventures, Aleph and more. In conjunction with the funding, Erez Shachar, Managing Partner at Qumra Capital, will be joining Nexar’s Board of Directors.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Eran Shir, Co-founder and CEO, Nexar turns cars into vision-sensors to understand the world. Its platform powers car vision connected services and apps, at scale, making new vision-based applications for better driving, powered by a crowd-sourced vision feed. Using anonymous, aggregated data captured from this network, Nexar has developed a portfolio of vision-based data services for public and private sector partners to make roadways safer and more efficient. The platform is already deployed across hundreds of thousands of cars, detecting parking spots, managing city safety and more.