Entertainment news

UK AI company Vivacity Labs secures £5m Series A funding to fuel international growth and deliver ‘smarter transport’

  • London tech firm to put money into increasing subsequent technology ‘AI-powered site visitors lights’ globally
  • Firm plans to double headcount and broaden into Northern Europe and Australian markets
  • Vivacity Labs’ know-how transforms cities into smarter and extra environment friendly locations to work and stay

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, as we speak introduced it has secured £5m of Collection A funding in a VC spherical led by investor Mobeus, with extra funding from current buyers Downing Ventures and London Co-Funding Fund.

Vivacity Labs

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 gives nameless, extremely correct knowledge to ship real-time perception into highway networks, infrastructure and the way in which through which all of us use our cities.

The funding will help Vivacity Labs’ enlargement of its AI-based site visitors sign system, which reduces congestion and permits cities to prioritise sustainable modes of transport, corresponding to cyclists and buses. The system will allow cities and transport authorities to effectively adapt to totally different coverage priorities, together with decreasing queuing, decreasing emissions, and enhancing air high quality. Transport for Higher Manchester is already a key associate and is scaling up set up to an space of 20 junctions this 12 months, and the Higher Cambridge Partnership along with 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 enlargement plans, Vivacity Labs has lately appointed Rob Stait as UK Gross sales Director, beforehand of AppyWay, and with 20 years’ expertise in rising know-how companies. The corporate can also be planning to double its headcount and is recruiting for roles throughout the corporate, together with in R&D/software program improvement, gross sales and advertising and marketing, and operations. Its manufacturing centre will stay within the UK, in Bletchley, Milton Keynes.

The corporate is seeing demand from worldwide markets for smarter transport insights, as international locations help initiatives in energetic journey and improved highway security. This 12 months it is going to broaden to help prospects in international locations together with the Nordics, Benelux, and Australia.

“These are extremely thrilling instances for Vivacity Labs, and the funding will help our goal to boost and optimise site visitors programs in all places,” mentioned Mark Nicholson, CEO of Vivacity Labs. “This has been a difficult 12 months for transport and commuters, nevertheless it’s nice to see optimistic initiatives corresponding to energetic journey now being prioritised. I’m pleased with our workforce who’ve developed some first-of-its type know-how which has untold potential.”

The Mobeus deal workforce comprised Greg Blin and Amaad Mahmood. Ed Wass, Portfolio Director, will probably be becoming a member of the Board. Greg mentioned, “We’re extremely excited to again this high-quality, passionate workforce who’ve created a market main product”.

Cobin Corbally, Accomplice at Downing Ventures, commented, “We’re delighted to proceed our help for this dynamic younger enterprise, which is a worldwide chief in site visitors administration options, utilizing AI know-how to make the world a safer place.”

Vivacity Labs lately received the Progressive Use of Expertise Award on the 2020 Clever Transport Techniques, 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 ‘Good Junctions’ sign management collect detailed and nameless knowledge 24/7 on transport modes, site visitors stream and journey patterns, supporting strategic selections to assist optimise the transport community and enhance city infrastructure.

We consider that every one private knowledge must be protected and our sensors have been developed utilizing privacy-by-design rules to make sure that private knowledge is rarely compromised. For extra data please go to:

To find how our know-how is making cities smarter, take a look at our interactive Options Map right here:

Twitter: @vivacitylabs

About Mobeus
We’re a workforce of buyers with a 20 12 months observe file, offering £2 million – £15 million to UK SMEs throughout all sectors. We associate with gifted and decided administration groups of corporations with robust progress potential

In 2020 our progress workforce 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 Collection A corporations, with the potential for follow-on investments. We put money into a wide range of know-how sectors together with Healthcare, Deep Tech and Enterprise. We now have a portfolio of 71 corporations as of September 2020. We work alongside quite a few funding companions and accelerator programmes and incubators, together with the London Co-Funding Fund.

Source link

Related posts

Stars Say Goodbye to 2020 Ahead of the New Year

Disney Channel’s ‘Secrets of Sulphur Springs’ Returns To Disney+ With First Of Its Kind Semi-Concurrent Airing – Deadline

Omarion & His Brother O’Ryan Set The Ultimate Thirst Trap In New Magazine Photoshoot

Leave a Comment