VivaCity raises £7m from ENV, Foresight Group, and Gresham House Ventures to fund international expansion
The transport technology scaleup will use the capital to scale its North American footprint and widen its product portfolio.
VivaCity develops artificial intelligence sensors that monitor traffic and transport patterns to help local authorities improve road safety and network efficiency.
VivaCity has secured £7m in funding from ENV, Foresight Group, and Gresham House Ventures to accelerate its international expansion and broaden its product range. The transport technology scaleup uses artificial intelligence sensors to gather detailed traffic data for urban authorities.
The capital arrives as the company pursues an expansion into North America, including an ongoing pilot project with the New York City Department of Transportation. Management also plans to introduce new products focused on sustainable transport, road safety, and network optimisation.
The investment builds on a period of sustained growth for the London-based firm, which reports increasing customer renewals and a rapidly expanding global sensor network.
From the founder
"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."
Mark Nicholson
CEO and Co-Founder at VivaCity
Investor perspective
"Zero emissions and zero casualties are goals that every city should thrive for. We’re convinced that VivaCity’s talented team and their unique technology will help cities globally to achieve this."
Theodor Schulte
Investment Manager, ENV
Use of funds
- 01Expand into international markets
- 02Continue product development
