Automotive manufacturer Ford Motor Company co-led US-based road technology startup Cavnue’s $130m series A round on Wednesday with Sidewalk Infrastructure Partners (SIP), the infrastructure investment firm spun off by internet and technology group Alphabet.
Transport infrastructure group Globalvia’s technology and innovation subsidiary, Openvia, also took part in the round, as did freight transportation manager Landstar System.
Formed by SIP in 2020, Cavnue is working on technologies capable of integrating roads with advanced automotive features such as driver assistance systems or autonomous vehicles.
The company’s products are initially concentrated on feeding vehicles data which could help them interact with their environments and each other, but its long-term vision involves dedicated lanes on roads which could facilitate its own driverless public transit vehicles.
The first such project is being explored through an agreement with the state of Michigan’s Department of Transportation and is centred on construction of its first automated vehicle corridor, which will be situated between the cities of Detroit and Ann Arbor.
Ford, which is headquartered in Michigan, is offering its vehicles and driverless car technology to Cavnue for use in demonstration projects. Its technical team is helping the company understand the full manufacturing requirements necessary for its technology to integrate with that of the carmakers.
Franck Louis-Victor, vice-president of new businesses at Ford’s autonomous vehicle development division, Ford Next, said: “At Ford, we are helping build a future of transportation that is safe, connected, sustainable and obtainable for all.
“That vision goes well beyond vehicles – and includes building an always-on relationship with our customers and delivering an ever-improving user experience.
“Cavnue’s mission to build the world’s most advanced roads aligns with that vision and has the potential to help accelerate the pace at which we can advance driver assistance features and safely deploy autonomous vehicles.”
In addition to investing in Cavnue, Openvia is providing knowledge of digital road technology, while its parent will pass on experience in public-private partnerships. Landstar is collaborating with it on smart infrastructure products designed to improve freight delivery.
Openvia chief executive Fernando Vallejo said: “At Openvia, we create solutions to improve mobility on roads, always keeping the user first. We believe that through the development of digital answers, self-driving experience can move a step forward.
“The infrastructure is essential to act in complement and synergy with the global technology needed for the autonomous vehicles, and Cavnue offers exactly the ecosystem to provide the revolution mobility needs.”
