Vivacity Labs, the London-based tech company using artificial intelligence to improve traffic insights and safety, has closed a £5 million Series A round led by Mobeus, with additional backing from Downing Ventures and London Co-Investment Fund.
Vivacity Labs works with government, regional bodies and local councils to re-think and optimise the way traffic and transport infrastructure is built and used. For example, the startup has built an AI-based traffic signal system, designed to reduce congestion and encourage cities to prioritise sustainable modes of transport, such as cyclists and buses.
The technology uses AI sensors which provide anonymous data to deliver real-time insight into road networks, infrastructure, and how citizens are using the city.
Transport for Greater Manchester is already a key partner, installing the traffic light system to an area of 20 junctions this year, and the Greater Cambridge Partnership along with Cambridgeshire County Council have also chosen to pilot the product.
Interest is coming in from abroad, too. This year Vivacity Labs will expand to support customers in countries including the Nordics, Benelux, and Australia.
With the new funding, the company is also planning to double its headcount and recruit 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.
Image courtesy of Vivacity Labs