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Nexar to Acquire Veniam

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AI mobility and smart car dashboard camera company Nexar will acquire Veniam, a provider of intelligent networking for the internet of moving things. With the acquisition, Nexar will combine vision data — captured and processed from billions of miles of driving — with Veniam’s communication technology at the edge.

According to Nexar, the company turns cars into vision sensors to understand the world. Crowd sourced images and detections collected from dashboard cameras developed by Nexar are processed to create and continually update a real-time digital twin of America’s roads and cities. Many data applications are powered by this digital twin, 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 and available street parking, and identify roads in need of repair.

Veniam’s software platform allows devices in cars to connect with each other as well as the internet. The 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,” said Eran Shir, co-founder and CEO of Nexar. “With Veniam we will continue scaling our data footprint and be able to expand our offering to OEMs.”

Nexar expects the combination to increase the reach and decrease the costs of rich mobility applications and the real-time mapping of the physical world.

Published: August 2022
Glossary
computer vision
Computer vision enables computers to interpret and make decisions based on visual data, such as images and videos. It involves the development of algorithms, techniques, and systems that enable machines to gain an understanding of the visual world, similar to how humans perceive and interpret visual information. Key aspects and tasks within computer vision include: Image recognition: Identifying and categorizing objects, scenes, or patterns within images. This involves training...
machine vision
Machine vision, also known as computer vision or computer sight, refers to the technology that enables machines, typically computers, to interpret and understand visual information from the world, much like the human visual system. It involves the development and application of algorithms and systems that allow machines to acquire, process, analyze, and make decisions based on visual data. Key aspects of machine vision include: Image acquisition: Machine vision systems use various...
machine learning
Machine learning (ML) is a subset of artificial intelligence (AI) that focuses on the development of algorithms and statistical models that enable computers to improve their performance on a specific task through experience or training. Instead of being explicitly programmed to perform a task, a machine learning system learns from data and examples. The primary goal of machine learning is to develop models that can generalize patterns from data and make predictions or decisions without being...
digital twin
A digital twin refers to a virtual representation or digital counterpart of a physical object, system, or process. This digital replica is created using real-time data and simulation models, allowing for the monitoring, analysis, and optimization of the corresponding physical entity. Digital twins are used in various industries to gain insights, improve performance, and enhance decision-making processes. Key characteristics and concepts associated with digital twins include: Virtual...
internet of things
The internet of things (IoT) refers to a network of interconnected physical devices, vehicles, appliances, and other objects embedded with sensors, actuators, software, and network connectivity. These devices collect and exchange data with each other through the internet, enabling them to communicate, share information, and perform various tasks without the need for direct human intervention. Key characteristics and components of the internet of things include: Connectivity: IoT...
Businessacquisitionscomputer visionmachine visionmachine learningdigital twinnetworkNexarAImobilityInternetInternet of ThingsIOTinternet of moving thingscarvehicleVeniamIsraelPortugalEuropeAsia PacificImage AnalysisperceptionThe News Wire

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