Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 178.360 Million

AI Startup Vivacity Labs Raises £1.6M in New Round

London-based AI startup Vivacity Labs has secured a £1.6 million funding round from Downing Ventures, Tracsis and the London Co-Investment Fund.

Founded in late 2015 by Mark Nicholson, the company is developing AI-powered cameras to make it possible to regulate vehicle traffic in real time— a tool that could speed up the advent of self-driving cars.

Vivacity Labs also secured a £1.7 million grant from Innovate UK’s Smart Cities initiative, and it is now going to test its smart sensors on the field, deploying 2,500 of them across a 130-square-km area  in Milton Keynes— monitoring most of the city’s junctions and parking spaces.

Vivacity Labs’ Chief technology officer Yang Lu commented on the fresh round of funding: “There is very limited intelligence to the current management of urban roads. Traffic lights are sequenced but rarely reactive to the levels of traffic around them,” he said.

“Traffic monitoring is still done manually. By introducing AI into the camera itself, Vivacity Labs has created a system that accurately identifies and reports road usage, removing the need for cumbersome manual interpretation and significantly reducing the potential for human error.”

Image via bit.ly/2ruFCcw

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