Savari, Inc., announced it has raised $12 million in Series B funding, led by Aviva Ventures, the corporate venture capital arm of international insurer Aviva plc. Existing investors SAIC Capital, Flex, and an undisclosed strategic investor also participated in the round. Aviva Ventures, the lead investor in the round, plans to develop autonomous vehicle insurance propositions by integrating Savari’s V2X analytics with its advanced data platform.
Savari will use the funds to scale its global presence and integrate its industry leading software solutions with cellular platforms. The company’s cellular V2X solutions enable communication between vehicles, infrastructure and pedestrians with mobile devices to deliver enhanced safety for next-generation transportation initiatives, such as ADAS systems for autonomous and semi-autonomous driving vehicles. Savari solutions capture and analyze dataon vehicle performance and control in real-time, giving a more complete and accurate picture of driving conditions to ADAS systems. By delivering awareness of driving conditions and vehicle and pedestrian traffic, Savari’s V2X solutions enable advanced safety for self-driving vehicles, helping them avoid preventable accidents. Savari is engaged with 18 OEM and Tier-1 customers around the world.
Savari’s MobiWAVE™ On-Board Units (OBUs), StreetWAVE™ Road-Side Units (RSUs), V2X middleware and over 50 V2X applications are deployed in over a dozen V2X smart city deployments around the world.
Source: Savari
