Commsignia, Hungarian-founded V2X provider, announces a $15M Series B round

Commsignia, the provider of Vehicle-to-Everything solutions, has announced the closing of a $15 million Series B funding round led by PortfoLion Capital Partners, Inventure, Day One Capital and Inference Partners. With the investment, it aims to strengthen its market position.

• Commsignia specializes in the research and development, manufacturing and distribution of cooperative intelligent transportation systems. Its product line includes a V2X Communication Software Stack and Commsignia’s own security stack implementation, Hybrid V2X/ADAS Safety Applications, a V2X Simulator, On-Board Units (OBU) and Roadside Units
• The company was founded in 2012 and is headquartered in Santa Clara, California. Currently, the company has mass production deals with multiple automotive OEMs and also partners with global automakers, including Volkswagen2, Audi of America3, and Ford4.
• The fresh round was co-led by:
  • Hungarian PortfoLion Capital Partners, that recently joined $13 million round for deskbird, a workplace management company.
  • Finnish Inventure. In August this year, it led $7.4 million seed round for local satellite provider ReOrbit.
  • Day One Capital, Budapest-based VC firm that recently joined €25.5 miilion investment for Hungarian biotech Turbine.
  • Inference Partners, London-based venture capital firm investing in the infrastructure software of the future.
• Partech, Credo Ventures, and Karma Ventures also participated. The round sees LG Electronics joining as a strong strategic partner along with existing strategic investors Samsung Catalyst Fund and Qualcomm Ventures. 
• Commsignis wants to strengthen its leadership and expand into new markets.