Nexar, a Tel Aviv, Israel-based AI mobility company,is to acquire Veniam, a Porto, Portugal-based provider of intelligent networking for the internet of moving things.
The amount of the deal was not disclosed.
With this acquisition, Nexar will combine vision data – captured and processed from billions of miles of driving – with Veniam’s communications technology at the edge. Together, the companies will increase the reach and decrease the costs of rich mobility applications and the real time mapping of the physical world.
João Barros, founder and CEO of Veniam, will now serve as Chief Platform Officer at Nexar.
Veniam has served dozens of global companies with a software platform that allows devices in cars to connect with each other as well as the Internet. The technology turns the cars themselves into internet access points for other devices, creating a mesh network capable of sharing data and internet connectivity across hundreds of thousands of devices and cars.
Led by Eran Shir, co-founder and CEO, Nexar turns cars into vision sensors to understand the world. Its platform powers car vision connected services and apps, at scale, making new vision-based applications for better driving, powered by a crowd-sourced vision feed. Using anonymous, aggregated data captured from this network, Nexar has developed a portfolio of vision-based data services for public and private sector partners to make roadways safer and more efficient. The platform is already deployed across hundreds of thousands of cars, detecting parking spots, managing city safety and more.
FinSMEs
04/08/2022