Evam System raises €600k for a vehicle-to-vehicle emergency communication system, expects to launch in 2018.

Evam System, a Stockholm, Sweden-based company working on a smart communication within V2V (Vehicle to Vehicle) and V2X (Vehicle to Everything) to improve road safety, announced securing a €600k ($740k) investment round.

The money comes from a range of local investors, including Almi Invest (which contributed with roughly half of the amount), the Grosskopf family, Christian Salamon and LIAF.

Evam was founded in 2015 by three students at KTH Royal Institute of Technology in Stockholm led by CEO Alex Hedberg. They developed Evam System, an antenna-based device placed in an emergency vehicle and which can transmit to nearby FM tuners equipped with Radio Data System (RDS). The signal is sent to other vehicles over the FM band along with the transmission of a text message that appears in the tuner display.

The company tested its solution in 2017 and expects to launch in 2018, aiming for markets such as the Middle East and Europe.