Following Campaign on Indiegogo, CarVi Receives $5 Million in Venture Funding for Connected Car Tech

CarViCarVi ran a successful campaign on Indiegogo last year. The project raised just over $100,000 to help fund their “connected car technology.” CarVi was supposed to ship last August. As with many campaigns, CarVi is more than a bit late. The last update for Indiegogo supporters is over four months old predicting delivery for supporters this past March.

But now we have some good news as it appears that CarVi has received a sizeable capital injection that should boost production and final product launch.  In a release provided by a CarVi representative, it has been announced that CarVi has secured $5 million in Series A funding from Samsung Venture Investment, Korea Telecom Investment, and POSCO.

CarVi is “driver’s assistant.”  The device incorporates a dash cam that is integrated with analytical technology alongside an App for you smartphone. It analyzes your actions and surroundings in real time to provide feedback and warnings when necessary. CarVi explains that it can track careless driving, lane changing, and other “risky behaviors.” The creators believe the device may also be utilized by insurance companies to model driver behavior and help determine insurance premiums.

Kevin Eunsu LeeKevin Lee, a co-founder of CarVi, states

“Our system offers a more budget and regulations friendly solution to bridge the gap between regular cars and fully autonomous ones. Now, you can have the security characteristics of new premium cars without spending enormous amounts of money, or waiting for changes in the legal system. Carvi brings the future to 2016 for everyone.”

Of course, for early backers they will just be happy the company now should have plenty of funding to begin mass production and deliver backer rewards.

CarVi is not alone in receiving venture funding following a campaign on Indiegogo. The platform has proudly touted on numerous occasions the hundreds of millions of dollars in capital investment their projects have received following a rewards based campaign.



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