- London tech firm to put money into increasing subsequent technology ‘AI-powered traffic lights’ globally
- Company plans to double headcount and develop into Northern Europe and Australian markets
- Vivacity Labs’ know-how transforms cities into smarter and extra environment friendly locations to work and reside
London, UK; 22 February, 2021: Vivacity Labs, the London-based tech firm which makes use of synthetic intelligence to enhance site visitors insights and security, at the moment introduced it has secured £5m of Series A funding in a VC spherical led by investor Mobeus, with extra funding from present buyers Downing Ventures and London Co-Investment Fund.
Vivacity Labs works with authorities, regional our bodies and native councils to re-think and optimise the way in which site visitors and transport infrastructure is constructed and used. The know-how supplies nameless, extremely correct information to ship real-time perception into street networks, infrastructure and the way in which during which all of us use our cities.
The funding will help Vivacity Labs’ growth of its AI-based site visitors sign system, which reduces congestion and permits cities to prioritise sustainable modes of transport, reminiscent of cyclists and buses. The system will allow cities and transport authorities to effectively adapt to completely different coverage priorities, together with lowering queuing, lowering emissions, and bettering air high quality. Transport for Greater Manchester is already a key accomplice and is scaling up set up to an space of 20 junctions this yr, and the Greater Cambridge Partnership at the side of Cambridgeshire County Council have additionally chosen to pilot this clever know-how to assist ease congestion and prioritise greener and energetic journey.
As a part of its growth plans, Vivacity Labs has not too long ago appointed Rob Stait as UK Sales Director, beforehand of AppyWay, and with 20 years’ expertise in rising know-how companies. The firm can also be planning to double its headcount and is recruiting for roles throughout the corporate, together with in R&D/software program growth, gross sales and advertising, and operations. Its manufacturing centre will stay within the UK, in Bletchley, Milton Keynes.
The firm is seeing demand from worldwide markets for smarter transport insights, as nations help initiatives in energetic journey and improved street security. This yr it would develop to help prospects in nations together with the Nordics, Benelux, and Australia.
“These are incredibly exciting times for Vivacity Labs, and the investment will support our objective to enhance and optimise traffic systems everywhere,” mentioned Mark Nicholson, CEO of Vivacity Labs. “This has been a challenging year for transport and commuters, but it’s great to see positive initiatives such as active travel now being prioritised. I’m proud of our team who have developed some first-of-its kind technology which has untold potential.”
The Mobeus deal crew comprised Greg Blin and Amaad Mahmood. Ed Wass, Portfolio Director, shall be becoming a member of the Board. Greg mentioned, “We’re incredibly excited to back this high-quality, passionate team who have created a market leading product”.
Cobin Corbally, Partner at Downing Ventures, commented, “We are delighted to continue our support for this dynamic young business, which is a global leader in traffic management solutions, using AI technology to make the world a safer place.”
Vivacity Labs not too long ago received the Innovative Use of Technology Award on the 2020 Intelligent Transport Systems, ITS (UK) Awards and has secured a three-year Innovate UK co-funded programme (alongside Immense Simulations) to make use of AI to optimise site visitors networks. Vivacity Labs has developed an algorithm that is ready to adapt shortly to altering site visitors circumstances and effectively implement high-level methods at each native and city-wide scales.
About Vivacity Labs
At Vivacity, our imaginative and prescient is to make cities smarter, safer and extra sustainable. Our AI sensors and ‘Smart Junctions’ sign management collect detailed and nameless information 24/7 on transport modes, site visitors circulate and journey patterns, supporting strategic selections to assist optimise the transport community and enhance city infrastructure.
We imagine that every one private information needs to be protected and our sensors have been developed utilizing privacy-by-design ideas to make sure that private information is rarely compromised. For extra data please go to: www.vivacitylabs.com
To uncover how our know-how is making cities smarter, take a look at our interactive Solutions Map right here: https://vivacitylabs.com/solutions/solutionsmap/
We are a crew of buyers with a 20 yr observe file, offering £2 million – £15 million to UK SMEs throughout all sectors. We accomplice with proficient and decided administration groups of corporations with robust progress potential www.mobeus.co.uk
In 2020 our progress crew made 4 new and 4 follow-on investments, totalling greater than £22m, to drive progress at UK SMEs, and exited six companies, producing over £70m of money earnings for the Mobeus VCTs.
About Downing Ventures
Downing Ventures is an evergreen fund investing in seed to Series A corporations, with the potential for follow-on investments. We put money into quite a lot of know-how sectors together with Healthcare, Deep Tech and Enterprise. We have a portfolio of 71 corporations as of September 2020. We work alongside a lot of funding companions and accelerator programmes and incubators, together with the London Co-Investment Fund. www.downingventures.com