Vivacity Labs, the London-based tech company using its sensors and artificial intelligence to improve traffic insights and safety, today announced it has secured a £5m 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.
“These are incredibly exciting times for Vivacity Labs, and the investment will support our objective to enhance and optimise traffic systems everywhere,” said Mark Nicholson, CEO. “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 team comprised Greg Blin and Amaad Mahmood. Ed Wass, Portfolio Director, will join the Board. Greg said, “We’re incredibly excited to back this high-quality, passionate team who have created a market-leading product.”
Mobeus was advised by Marriott Harrison (legal), Jim McLaughlin (Financial), PMSI (Commercial), Neotas (Management), Scoptima (Operational) and Stuart Lynn Consulting (IT).