iOnRoad wins 3rd Annual Qualcomm Ventures QPrize

iOnRoad has won the 3rd Annual Qualcomm Ventures QPrize, an international venture investment competition hosted by Qulacomm venture capital arm, Qualcomm Ventures.

iOnRoad, an Israeli company, took top honors against tough competition from seven other regional winners representing North America, Eastern Europe, Western Europe, Brazil, China, Korea, and India.

The company previously won QPrize's Israel regional competition and was awarded US $100,000 in venture financing to cultivate their business. As the QPrize grand prize winner, iOnRoad will receive an additional US $150,000 in convertible note funding from Qualcomm.

iOnRoad improves driving in real-time using the power of advanced smartphones. The app uses the smartphone's native camera and sensors to detect vehicles ahead of their own, alerting drivers when they are in danger.

iOnRoad's VisualRadar maps objects in front of the driver in real time, calculating the user's current speed using native sensors. As the vehicle approaches danger, an audio-visual warning pops up to warn the driver of a possible collision, allowing them to brake in time.

"We had an enormous amount of interest in this year's QPrize competition and it's clear that entrepreneurs have fully embraced the mobile platform and are on their way to building some great companies," said Nagraj Kashyap, senior vice president of Qualcomm Ventures.

"We congratulate iOnRoad on their exceptional achievement and look forward to helping them expand their business opportunities and market presence. We also want to congratulate the seven other regional winners - Might Text, Everplaces, Pult, Touchair, Deck App Technologies, Easyworks and Zoop - who have each received US $100,000 (€100,000 in Europe) in venture financing from Qualcomm," said Kashyap.