Nexar acquires Veniam to leverage vehicles as engines of data
Dashcam maker Nexar has acquired Veniam , a software platform that allows devices in cars to connect with each other as well as the Internet.
With this acquisition, Nexar will combine vision data with Veniam’s communications technology to increase the reach and decrease the costs of mobility applications and the real time mapping of the physical world.
Based in Porto, Portugal, Veniam’s 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.
“Veniam is a natural fit for Nexar. We became very familiar with their technology, and the amazing team behind it, as clients of Veniam. It was obvious that we can achieve so much more with them as part of Nexar. With Veniam we will continue scaling our data footprint, and be able to expand our offering to OEMs. For the first time ever, Nexar will provide a bundle of rich applications and data access, removing long-standing barriers and accelerating the adoption of crowdsourced vision for the benefit of the entire mobility ecosystem.” – Eran Shir, co-founder and CEO of Nexar.
“Nexar is collecting and deploying data in a manner and scale that is unprecedented. We’re thrilled to be joining their team and working together to transfer massive amounts of data to the cloud in a secure and cost-effective way, while making cars and the cities they drive in, smarter, safer and more sustainable.” – João Barros, founder and CEO of Veniam, who will now serve as Chief Platform Officer at Nexar.
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