VivaCity, a London-based transport technology scaleup, has raised £7 million in funding from sustainable infrastructure VC investor ENV, Foresight Group (also backed BlueSkeye AI), Gresham House Ventures, and Gresham House.
The investment will fuel VivaCity’s North American expansion and widen its product portfolio.
As a part of North American expansion, VivaCity has been conducting a pilot project with the New York City Department of Transportation (NYC DOT), with sensors installed in Manhattan, Brooklyn, and Queens.
In 2023, VivaCity plans to add a new product to its portfolio, primarily focusing on three challenges — Sustainable Transport, Road Safety, and Network Optimisation to beat congestion.
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.”
Making city smart and safe
Founded by Mark Nicholson, Peter Mildon, and Yang Lu, VivaCity makes cities smarter, safer, and more sustainable by supporting authorities with the right transport data at the right time.
The company’s AI sensors gather accurate, detailed, and anonymous data 24/7 on transport modes, traffic flow, and travel patterns, supporting strategic decisions to help optimise the transport network and improve urban infrastructure.
Further, the company has acquired new contracts this year, including Nottingham City Council, which is installing VivaCity’s sensors city-wide to understand how different transport mode volumes affect pollution levels.
The funding follows VivaCity’s massive growth, where its global sensor network approaching 20 billion road user counts.
The UK company claims that the volume of sensors in the market 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.
Theodor Schulte, Investment Manager at ENV: “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.”
Ed Wass, Portfolio Partner at Gresham House Ventures added: “We have continued to be impressed by VivaCity’s progress following our first investment in the company and are excited to be injecting further capital to support the next stage of its development internationally. VivaCity’s offering has enormous potential to improve transport systems around the world, and we look forward to working closely with the company in the coming years to enable its continued growth.”