Investment & Fund Management
facilitated by the European Investment
Full Credential Description
Commsignia, a Hungarian company founded in 2012, specializes in intelligent transportation solutions, focusing on Vehicle-To-Everything (V2X) communication technologies. The niche issue they faced was the need to enhance traffic safety and efficiency through better information sharing among vehicles and infrastructure. Their innovative approach allows vehicles to communicate with each other and with traffic infrastructure, providing critical data that can improve decision-making for drivers, especially in adverse weather conditions.
To address these challenges, Commsignia developed hardware and software solutions that enable V2X communication. This technology allows vehicles to receive real-time data from traffic lights and other vehicles, significantly enhancing safety by providing alerts about potential hazards up to 1 kilometer away. For instance, during their deployment in Las Vegas, their V2X product enabled self-driving cars to interpret their environment more effectively, thereby reducing the risk of accidents.
The tailored solution provided by Commsignia was further bolstered by an equity investment from Day One Capital, facilitated by the European Investment Fund (EIF) under the EUs Investment Plan for Europe. This funding allowed Commsignia to scale its operations, nearly doubling its engineering staff to meet the growing demand for their technology. As a result, Commsignia is now positioned to expand its market reach beyond Europe and the USA, engaging with potential clients in Japan, South Korea, and China, and exploring applications for other vehicle types, including trucks and possibly motorcycles in the future.