- London tech corporate to spend money on increasing subsequent era ‘AI-powered visitors lighting’ globally
- Corporate plans to double headcount and extend into Northern Europe and Australian markets
- Vivacity Labs’ generation transforms towns into smarter and extra environment friendly puts to paintings and reside
London, UK; 22 February, 2021: Vivacity Labs, the London-based tech corporate which makes use of synthetic intelligence to fortify visitors insights and protection, as of late introduced it has secured £5m of Sequence A investment in a VC spherical led by way of investor Mobeus, with further investment from present traders Downing Ventures and London Co-Funding Fund.
Vivacity Labs works with govt, regional our bodies and native councils to re-think and optimise the best way visitors and shipping infrastructure is constructed and used. The generation supplies nameless, extremely correct knowledge to ship real-time perception into highway networks, infrastructure and the best way by which all of us use our towns.
The funding will reinforce Vivacity Labs’ enlargement of its AI-based visitors sign gadget, which reduces congestion and permits towns to prioritise sustainable modes of shipping, similar to cyclists and buses. The gadget will allow towns and shipping government to successfully adapt to other coverage priorities, together with lowering queuing, lowering emissions, and making improvements to air high quality. Shipping for Larger Manchester is already a key spouse and is scaling up set up to a space of 20 junctions this yr, and the Larger Cambridge Partnership along with Cambridgeshire County Council have additionally selected to pilot this clever generation to lend a hand ease congestion and prioritise greener and lively trip.
As a part of its enlargement plans, Vivacity Labs has not too long ago appointed Rob Stait as UK Gross sales Director, prior to now of AppyWay, and with 20 years’ revel in in rising generation companies. The corporate could also be making plans to double its headcount and is recruiting for roles around the corporate, together with in R&D/instrument building, gross sales and advertising, and operations. Its production centre will stay in the United Kingdom, in Bletchley, Milton Keynes.
The corporate is seeing call for from world markets for smarter shipping insights, as international locations reinforce projects in lively trip and stepped forward highway protection. This yr it’ll extend to reinforce consumers in international locations together with the Nordics, Benelux, and Australia.
“Those are extremely thrilling instances for Vivacity Labs, and the funding will reinforce our purpose to fortify and optimise visitors methods far and wide,” mentioned Mark Nicholson, CEO of Vivacity Labs. “This has been a difficult yr for shipping and commuters, but it surely’s nice to peer certain projects similar to lively trip now being prioritised. I’m pleased with our crew who’ve evolved some first-of-its sort generation which has untold doable.”
The Mobeus deal crew comprised Greg Blin and Amaad Mahmood. Ed Wass, Portfolio Director, might be becoming a member of the Board. Greg mentioned, “We’re extremely excited to again this top quality, passionate crew who’ve created a marketplace main product”.
Cobin Corbally, Spouse at Downing Ventures, commented, “We’re extremely joyful to proceed our reinforce for this dynamic younger trade, which is a world chief in visitors control answers, the use of AI generation to make the sector a more secure position.”
Vivacity Labs not too long ago gained the Leading edge Use of Era Award on the 2020 Clever Shipping Programs, ITS (UK) Awards and has secured a three-year Innovate UK co-funded programme (along Immense Simulations) to make use of AI to optimise visitors networks. Vivacity Labs has evolved an set of rules that is in a position to adapt briefly to converting visitors prerequisites and successfully put in force high-level methods at each native and city-wide scales.
About Vivacity Labs
At Vivacity, our imaginative and prescient is to make towns smarter, more secure and extra sustainable. Our AI sensors and ‘Good Junctions’ sign regulate collect detailed and nameless knowledge 24/7 on shipping modes, visitors waft and trip patterns, supporting strategic selections to lend a hand optimise the shipping community and fortify city infrastructure.
We imagine that each one private knowledge will have to be secure and our sensors had been evolved the use of privacy-by-design rules to make certain that private knowledge is rarely compromised. For more info please talk over with: www.vivacitylabs.com
To find how our generation is making towns smarter, take a look at our interactive Answers Map right here: https://vivacitylabs.com/answers/solutionsmap/
We’re a crew of traders with a 20 yr monitor document, offering £2 million – £15 million to UK SMEs throughout all sectors. We spouse with proficient and decided control groups of businesses with sturdy enlargement doable www.mobeus.co.united kingdom
In 2020 our enlargement crew made 4 new and 4 follow-on investments, totalling greater than £22m, to force enlargement at UK SMEs, and exited six companies, producing over £70m of money income for the Mobeus VCTs.
About Downing Ventures
Downing Ventures is an evergreen fund making an investment in seed to Sequence A corporations, with the potential for follow-on investments. We spend money on a number of generation sectors together with Healthcare, Deep Tech and Undertaking. Now we have a portfolio of 71 corporations as of September 2020. We paintings along numerous funding companions and accelerator programmes and incubators, together with the London Co-Funding Fund. www.downingventures.com