New MIT metal-mesh membrane could solve longstanding problems with liquid metal displacement batteries; inexpensive grid power storage
Port of Rotterdam Authority puts hybrid vessel into operation

V2V safe-driving network company Nexar raises $30M in Series B

Nexar, a vehicle-to-vehicle (V2V) technology company, closed a $30 million round of financing led by Ibex Investors, with participation from Alibaba Innovation Ventures, US-based Nationwide, and previous investors Aleph, Mosaic Ventures, Slow Ventures, True Ventures, and Tusk Ventures. The company provides consumers, insurance companies, and automakers with safe driving tools that detect, record, and warn drivers of real-time road hazards.

Nexar will use the funding to further its mission of eliminating car crashes and expand its V2V network by working with insurers, cities, and automakers. The company offers a free dashcam app connected to a V2V communication network that marries its deep learning and sensor fusion technology with off-the-shelf hardware to provide advanced driver-assistance systems (ADAS) and collision prevention alerts to drivers.

Nexar also provides next-generation data products and telematics to insurance carriers, such as collision reconstruction and first notice of loss reports, which help expedite claims and prevent fraudulent claims. In the near future, Nexar products will also help municipalities and states better manage infrastructure and traffic, and make roads safer through its data-powered insights.

Since the launch of Nexar’s app in 2016, drivers in 740 cities across 160 countries have driven more than 100 million miles with Nexar, with 10 million miles driven in the last month alone. After activating its vehicle-to-vehicle network in New York City later that year, Nexar saw a 30% reduction in collisions among its users. Nexar’s biggest markets are in New York City, San Francisco, Tel Aviv, and Las Vegas. In New York, Nexar is used by more than 10% of the city’s ride-sharing drivers and is able to provide a complete scan of each intersection in Manhattan every five minutes.


The comments to this entry are closed.