Nexar raises $53 million to create AI-digital twin of U.S. roads
The Israeli company’s network of dash cam’s collect more images than any entity besides Tesla
CTech | 16:00 17.11.2021
AI computer vision company Nexar announced on Wednesday the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, Valor and previous backers; Atreides Management, Corner Ventures, Regah Ventures, Aleph and more. Nexar is a leading provider of crowd-sourced visual data and with their data from hundreds of thousands of dash cams across the U.S. and globally, they are second only to Tesla with the volume of image-data collected. The footage is contextualized with AI and provides valuable insights to cities, departments of transportation, automotive and insurance companies, and more. Nexar uses the footage it collects to create an AI-digital twin of U.S. roads and their surroundings. This dynamic representation provides real-time updates in a range of key areas such as work zones, road signs, road markings, potholes and many other elements, for a constant stream of accurate information. With this tool, city officials are able to plan, prioritize and fix issues at a much faster pace, while automotive companies are able to inform their autonomous vehicles of obstacles lying ahead.