Vivacity Labs secured £5 million of series A funding in a round led by investor Mobeus.
Vivacity Labs, a London, UK-based software developer of SAAS for transport infrastructure, announced the completion of a £5 million ($7 million) series A funding round.
The money was raised from investors led by Mobeus Equity Partners, with additional backing from Downing Ventures and London Co-Investment Fund. The proceeds of the investment will be used for business expansion.
Vivacity Labs, founded in 2015 by Mark Nicholson (CEO), Peter Mildon and Yang Lu, developed software that can be used to reduce traffic congestions and allows cities to prioritise sustainable modes of transport, such as cyclists and buses.