VivaCity, a London-based transport technology startup, has raised £7m as it looks to bring its AI traffic optimisation platform to North America.
The startup uses AI sensors to gather data on transport modes, traffic flow, and travel patterns to provide insight into transport network planning.
VivaCity works with local council authorities that are looking to gain a better understanding of transportation in their regions and develop new urban planning strategies. The startup has secured contracts with Nottingham City Council and Barnet Council, among others.
Founded in 2015, the new funding follows a £5m Series A round in February 2022. In the two years between rounds, VivaCity has expanded its global sensor network to 20 billion road user counts.
The latest cash injection has come from ENV, a VC targeting sustainable infrastructure solutions, as well as existing investors Foresight Group and Gresham House Ventures.
“The investment from ENV, Foresight Group and Gresham House Ventures will support us in our mission to optimise transport networks and improve urban infrastructure, increasing both the safety and sustainability of our roads,” said Mark Nicholson, co-founder and CEO of VivaCity.
“Our growth over the past year is a testament to our hard-working team, and we look forward to the opportunities that 2023 will bring, especially when it comes to expanding our product suite and continuing our international expansion.”
Theodor Schulte, investment manager at ENV, added: “Zero emissions and zero casualties are goals that every city should thrive for. We’re convinced that VivaCity’s talented team and their unique technology will help cities globally to achieve this.”
VivaCity will now look towards bolstering its North American presence, which currently exists in the form of a pilot project with the New York City Department of Transportation (NYC DOT).
NYC DOT is currently assessing how the data insights provided by the UK startup might improve road safety and efficiency in the city.
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