Mobeus leads £5m series-A for Vivacity

The firm is investing from its fourth-generation fund, which closed on £166m in August 2017.

Existing investors Downing Ventures and London Co-Investment Fund also contributed to the round.

The investment will support the expansion of Vivacity Labs' artificial intelligence-based traffic signal system, which is intended to reduce congestion and allows cities to prioritise sustainable modes of transport, such as bicycles and buses. As part of its expansion plans, Vivacity plans to double its headcount and is recruiting for roles across the company, including in R&D/software development, sales and marketing, and operations, according to a statement

Ed Wass, portfolio director, will join the company's board.

Company
Vivacity manufactures sensors and develops software to improve traffic insights and safety procedures. Its partners include Transport for Greater Manchester and the Greater Cambridge Partnership, according to a statement. Its manufacturing centre is in the UK, in Bletchley, Milton Keynes. It was founded in 2005.

People
Mobeus – Greg Blin (investment director); Ed Wass (portfolio director); Amaad Mahmood (investment executive).

Advisers
Equity – Marriott Harrison (legal); Jim McLaughlin (corporate finance); PMSI (commercial due diligence); Neotas (management due diligence); Scoptima (operational due diligence); Stuart Lynn Consulting (IT due diligence).

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