Vivacity Labs, the London-based tech company using its world-leading sensors and artificial intelligence to improve traffic insights and safety, today announced it has secured a £5 million Series A investment round.
Mobeus led the VC round, with additional funding from existing investors Downing Ventures and London Co-Investment Fund.
Vivacity Labs works with national government, regional bodies and local councils to re-think and optimise the way traffic and transport infrastructure is built and used. The technology provides anonymous, highly accurate data to deliver real-time insight into road networks and infrastructure, and is at the forefront of developments of smart cities, active travel and autonomous vehicles.
The investment will support the expansion of Vivacity Labs’ AI-based traffic signal system, which reduces congestion and allows cities to prioritise sustainable modes of transport, such as bicycles and buses. The system will enable cities and transport authorities to efficiently adapt to different policy priorities, including reducing queuing and emissions, and improving air quality. Transport for Greater Manchester is already a key partner and is scaling up installation to an area of 20 junctions this year. The Greater Cambridge Partnership, in conjunction with Cambridgeshire County Council, have also chosen to pilot this intelligent technology to help ease congestion and prioritise greener and more active travel.
As part of its expansion plans, Vivacity Labs plans to double its headcount and is recruiting for roles across the company, including in R&D/software development, sales and marketing, and operations. Its manufacturing centre will remain in the UK, in Bletchley, Milton Keynes.
The company is seeing strong demand from international markets for smarter transport insights, as countries support initiatives in active travel and improved road safety. This year it will expand to support business opportunities in countries including the Nordics, Benelux, and Australia.
PMSI provided CDD on the deal. Greg Blin, Investment Director at Mobeus, commented: “It was a pleasure to work with the PMSI team who delivered a clear and concise due diligence report with sound commercial insights within an efficient timeframe.”
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