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The investment will support Vivacity Labs’ expansion of its AI-based traffic signal system, which aims to reduce congestion and allows cities to prioritise sustainable modes of transport.
UK AI company Vivacity Labs has secured £5m of series A funding in a round led by investor Mobeus. Existing investors Downing Ventures and London Co-Investment Fund provided additional funding.
The London-based tech company, which uses artificial intelligence to improve traffic insights and safety, works with government, regional bodies and local councils to re-think and optimise the way traffic and transport infrastructure is built and used.
The investment will support Vivacity Labs’ expansion of its AI-based traffic signal system, which aims to reduce congestion and allows cities to prioritise sustainable modes of transport, such as cyclists and buses.
According to Vivacity Labs, its system will enable cities and transport authorities to efficiently adapt to different policy priorities, including reducing queuing, reducing 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, and the Greater Cambridge Partnership in conjunction with Cambridgeshire County Council have also chosen to pilot the technology to help ease congestion and prioritise greener and active travel.
“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”
The company reports it is seeing demand from international markets for smarter transport insights, as countries support initiatives in active travel and improved road safety. This year it intends to expand to support customers in countries including the Nordics, Benelux, and Australia.
Vivacity is also planning 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.
“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 of Vivacity Labs.
“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.”
“We are delighted to continue our support for this dynamic young business, which is a global leader in traffic management solutions, using AI technology to make the world a safer place,” added Cobin Corbally, partner at Downing Ventures.
Vivacity Labs has secured a three-year Innovate UK co-funded programme (alongside Immense Simulations) to use AI to optimise traffic networks. It claims to have developed an algorithm that is able to adapt quickly to changing traffic conditions and efficiently implement high-level strategies at both local and city-wide scales.
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