V2X chipset vendor raises $30 million

V2X chipset vendor raises $30 million

Business news |
By Peter Clarke

The funding follows design wins with Tier-1s such as Denso and with OEMs such as Audi and the company said it would use the money to expand operations worldwide and accelerate deployment.

The new funding round includes the company’s existing investors:  Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co. Global Investment, Liberty Ventures and Delek Motors, as well as new financial investors: Israeli institutions, Fraser McCombs Ventures, Vintage Investment Partners and Samsung Catalyst Fund.

Autotalks, founded in 2008, is a V2X-chipset market pioneer and released its second generation chipset in 2016. The chipset is designed to meet automotive reliability requirements and includes multiple layers of security including secure boot, secure low-latency signing, line-rate verification of the entire V2X communication link and V2X firewall hardening the communication. The chipsets include cryptographic-agile security engines to support field upgrade to future algorithms.

The US Department of Transport has given notice that it proposes to mandate dedicated short-range communication (DSRC) based V2V for in all new light vehicles sold in the US by 2023. As a result V2V communications is expected to be deployed in new US vehicles starting in 2019.

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