Vehicle communications startup Autotalks has raised $30 million in a Series D round from new and existing investors.
New investors in the round include Israeli institutions, Fraser McCombs Ventures, Vintage Investment Partners, and Samsung Catalyst Fund alongside existing shareholders Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co. Global Investment, Liberty Ventures, and Delek Motors.
Autotalks, based in Israel, develops chipsets for V2X (vehicle to everything) communication in cars.
The US Department of Transportation recently issued a notice that said short range communication must be installed on all new vehicles by 2023. Autotalks believes that this provides the company and its tech ample opportunity for the future; it expects to deploy its chipsets in US models in 2019.
“Our mission to equip vehicles with such lifesaving technology is now being adopted by the regulators and leading car manufacturers. I believe our chipsets will soon be part of most new vehicles worldwide,” said CEO Hagai Zyss.