Autotalks, a developer of V2X (vehicle to everything) communication chipsets, has extended its recent funding round. The company completed its Series D round with around US$40m in investments, an oversubscription of US$10m.
New investors include the Mirai Creation Investment Fund – of which the principal investors are Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation, managed by Sparx Group. Meanwhile current investors have also increased their investments in the company.
Autotalks CEO Hagai Zyss said, “The funding round will allow Autotalks to prepare and expand its operations for the upcoming start of mass productions as well as continue to develop communication solutions for both connected and autonomous cars. As a result, Autotalks will continue to stay a step or two ahead of its competition as has been the case since the company’s inception.”
Shuhei Abe, CEO of Sparx Group, the operator of Mirai Creation Investment Limited Partnership, said, “Mirai Creation Fund believes that automobiles are no longer only concerned with the safety of driving, but rather there is a possibility that automobiles will become a hub to even gather vehicle information. We believe that V2X technology will play an important role for automobiles to be that kind of hub.”
June 30, 2017