Israel-based Autotalks, a developer in V2X (Vehicle to Everything) communication chipsets (earlier post), has completed its Series D round with about $40 million in investments, an oversubscription of $10 million. The increased investment amount is a result of new investments from investors such as Mirai Creation Investment Fund, of which the principal investors are Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation, and is managed by SPARX Group. Additionally, current Autotalks’ investors increased their investment in the company.
One of the V2X market’s key drivers is the rush of automotive OEMs and Tier1s to mass market V2X systems in vehicles. As the USDOT issued NPRM (Notice for Proposed Rule Making) will soon be in effect, leading global automotive companies are ahead of regulation. After several design wins, Autotalks is quickly preparing for mass production starting in 2019.
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.—Hagai Zyss, Autotalks’ CEO