June 26, 2017 / 12:13 PM / 2 years ago

Israel's Autotalks raises additional funds, Toyota invests

TEL AVIV, June 26 (Reuters) -

* Autotalks, an Israeli provider of vehicle to vehicle (V2V) communication for improving road safety, said on Monday it extended a recent fundraising round to $40 million after getting new investments from Toyota and other groups.

* The company, whose technology has been selected by several car manufacturers, first said in March it would finish the late-stage funding round with $30 million.

* The increase is a result of new investments from investors such as Mirai Creation Investment Fund, of which the principal investors are Toyota Motor Corp and Sumitomo Mitsui Banking Corp, Autotalks said.

* Current investors also increased their funding, the company said.

* “The funding round will allow Autotalks to prepare and expand its operations for the upcoming start of mass productions as well as continue to develop communication solutions for both connected and autonomous cars,” said Chief Executive Hagai Zyss. (Reporting by Ari Rabinovitch, Editing by Tova Cohen)

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