Nexar: Creating Digital Twins of Cities with Dashcam Data

Nexar Secures $53 Million in Series D Funding

Nexar, primarily recognized for its innovative range of smart dash cameras, has successfully completed a $53 million Series D financing round. This funding round was spearheaded by Qumra Capital.

A portion of these newly acquired funds will be allocated towards expanding the company’s “digital twin” service. This service leverages crowdsourced dash cam footage, providing valuable data to both automotive manufacturers (OEMs) and urban planning departments.

Investor Participation

The investment round also attracted participation from several prominent investors. These include State Farm Ventures, Catalyst, Banca Generali, Valor, and existing investors such as Atreides Management, Corner Ventures, Regah Ventures, and Aleph.

Vision for a "Google of the Physical World"

Co-founder and CEO, Eran Shir, articulated the company’s long-term vision. “We envisioned Nexar becoming the ‘Google of the physical world’ from the outset,” he stated. “As machines and algorithms increasingly rely on real-world data, this capability will become ever more crucial.”

Evolution of the Live Map Service

Nexar initially ventured into this ambitious project with the launch of “Live Map” in 2019.

This service delivers real-time street-level imagery and employs computer vision technology to identify key elements like construction zones and street signage for users.

Since its inception in 2015, Nexar has continually enhanced the service, adding new layers and functionalities. Currently, the company processes imagery from approximately 150 million miles driven each month.

Enhancing the Digital Twin Product

The recent capital injection will facilitate broader data platform availability and refine the “digital twin” product. The goal is to achieve near-instantaneous updates – within seconds – whenever a dash cam detects a new feature, such as a road imperfection.

For example, the Regional Transportation Commission of Southern Nevada is already utilizing Nexar’s CityStream platform to mitigate traffic congestion caused by work zones.

Applications in Emergency Response

The technology also holds potential for assisting cities in responding to natural disasters. It can help determine road accessibility or identify cleared routes following winter storms, according to Shir.

Benefits for Automotive OEMs

Nexar’s data could also prove invaluable to automotive companies. Shir explained, “If you’re an OEM developing features like Autopilot or Supercruise, you need assurance that a specific road segment is clear of obstructions and construction. Conversely, you need to know when construction is completed to reinstate those features.”

AI Model Training

Furthermore, the collected data can be used to train artificial intelligence models for autonomous vehicle systems. This includes identifying unusual scenarios, potential collisions, and uncommon road conditions.

The Future of Mapping

“Looking ahead three to five years, the automotive industry is pushing the boundaries of autonomy, and these advancements will necessitate a new approach to mapping,” Shir emphasized. “Traditional mapping solutions, like those offered by Google Maps, are insufficient for the direction we’re heading.”