Friday, 29 March 2024
InfrastructureNews

Transport Tech firm VivaCity raises £7 million to fuel USA drive

VivaCity, the AI-driven transport technology business that data gathers on modal share and travel patterns, has announced that it has raised £7 million to scale up its business in the USA.

The funding comes after an impressive year of growth for the company, with VivaCity’s global sensor network approaching 20 billion road user counts. The volume of sensors in the market also increased by 48% over the past year, while 94% of customers renewed their contracts. Alongside continued growth in Australia, the global team has grown by 20% over the past 12 months and moved into larger offices in Shoreditch, with key hires including Head of Global Marketing, Mike Hollingbery.

Vivacity Labs’ sensors have been deployed in towns and cities across the UK, including Manchester, Cambridge and Sunderland. The business most recently inked a deal with Nottingham City Council, which is installing VivaCity’s sensors city-wide to understand how different transport mode volumes affect pollution levels. Data from VivaCity’s sensors also played an instrumental role in Barnet Council’s successful Levelling Up bid.

When it comes to VivaCity’s North America expansion, the team has been conducting a pilot project with the New York City Department of Transportation (NYC DOT), with sensors installed in Manhattan, Brooklyn and Queens. NYC DOT is assessing how they could use this data to prioritise projects for the areas most in need of safety and other improvements, while simultaneously helping NYC understand how people are using the city’s streets.

In this funding round, sustainable infrastructure VC investor ENV is joining existing investors, alternative assets and SME investment manager, Foresight Group and Gresham House Ventures, the growth equity arm of specialist alternative asset manager, Gresham House.

Mark Nicholson, CEO and Co-Founder at VivaCity, commented: “The investment from ENV, Foresight Group and Gresham House Ventures will support us in our mission to optimise transport networks and improve urban infrastructure, increasing both the safety and sustainability of our roads. Our growth over the past year is a testament to our hard working team, and we look forward to the opportunities that 2023 will bring, especially when it comes to expanding our product suite and continuing our international expansion.”

The CEO of VivaCity, Mark Nicholson, previously featured on the CyclingIndustry.News podcast where he discussed how the data gathered was helping local authorities quickly build around transport demand and understand how cyclists in particular could have their journeys improved. Tune in to that episode here.