TEL AVIV, March 22 Autotalks, an Israeli
provider of vehicle to vehicle (V2V)communication for improving
road safety, said on Wednesday it raised $30 million in a
late-stage funding round, bringing to $70 million its total
raised to date.
It will use the funds to expand operations and accelerate
deployment of technologies for safer autonomous vehicles.
The new funding includes the company's existing investors
Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui &
Co Global Investment, Liberty Ventures and Israel's Delek
Motors, as well as new investors including Texas-based Fraser
McCombs Ventures and the Samsung Catalyst Fund.
The funding comes as the U.S. Department of Transportation
has said that in an effort to increase road safety it will
mandate V2V in all new light vehicles sold in the United States
by 2023. To meet this target, deployments will start in 2019.
Autotalks' technology has been selected by several car
(Reporting by Tova Cohen)