Nexar acquires Veniam for autonomous vehicles
Nexar is acquiring Veniam in Portugal, a provider of intelligent networking for vehicles.
“This is a big deal for us, being our first acquisition,” said Eran Shir, CEO of Nexar. “Nexar, today, is the largest collector of vision data from vehicles in the US. With half a million vehicles worldwide, and hundreds of millions of miles per month in the US alone, Nexar is collecting petabytes of imagery and detections about the changing world, which are used to map the roads, monitor infrastructure, and alert vehicles in real time.”
Veniam has raised nearly $27m and built a technology stack that allows for the effective use of multiple connectivity channels such as cellular, Wifi, Mesh and others, by moving vehicles. It allows for the seamless upload of massive amounts of data from vehicles, as they move, in real time, and with a much lower cost than just using traditional cellular.
“This partnership will allow Nexar to offer OEMs and mobility players a bundled platform that will allow for the accelerated adoption of crowdsourced vision applications,” said Shir. “Many data applications are already powered by Nexar’s platform, including applications helping to train autonomous cars for extreme driving scenarios, map out the changing road infrastructure, monitor in real time locations of construction zones & available street parking, identify roads in need of repair, and many more.”
This follows the deployment of a proof of concept in Japan with the AECC (Automotive Edge Compute Consortium) to showcase a reference architecture built around Nexar’s Nexagons data standard.
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