Israel-based vehicle-to-vehicle technology developer Autotalks has closed a $30m series D round featuring conglomerate Mitsui, electronics manufacturer Samsung, media group Liberty Interactive and automotive supplier Delek Motors, Globes reported yesterday.
Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Fraser McCombs Ventures and Vintage Investment Partners also took part in the round. Mitsui, Liberty and Samsung invested through respective subsidiaries Mitsui & Co Global Investment, Liberty Israel Venture Fund and Samsung Catalyst Fund.
Founded in 2008, Autotalks is working on semiconductor technology that will be used to help driverless cars communicate with each other. The round will support further product development and international growth.
The round follows $40m raised by Autotalks across three rounds, according to Globes, which named Delek, Mitsui, Liberty, Magma, Gemini Israel and Amiti Fund as existing investors.
Hagai Zyss, chief executive of Autotalks, said: “We are very pleased with the completion of this financing round, supported by such strong syndicate. It demonstrates clear vote of confidence in Autotalks’ ability to execute and gain a leading market share.
“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.”
– Image courtesy of Autotalks Ltd.