Nexar, a New York-based AI Computer Vision company, has raised $53m through Series D financing.
It led Qumra Capital with participation from State Farm Ventures, Catalyst Investments, Banca Generali, Valor and other previous backers, Atreides Management, Corner Ventures, Regah Ventures, Aleph, and many more. As part of the financing, Erez Shachar, Managing Partner at Qumra Capital, will join Nexar’s Board of Directors.
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Nexar Raises $53M in Series D Funding
The company will utilize the funds to expand its operations and reach.
Directed by Eran Shir, co-founder and Chief Executive Officer, Nexar transforms car sensors that can see the world. The platform can power car vision-connected services and apps on a large scale, enabling new applications that use vision to improve driving. This is made possible by a vision feed that is crowdsourced.
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By aggregating anonymous data from this system, Nexar has developed a collection that includes vision-driven data services available to the public and private-sector partners that make roads better and safer. The platform has been used by hundreds of thousands of vehicles and is capable of identifying parking spaces, ensuring safety in cities, and much more.