VivaCity Labs, a UK-based traffic flow management solutions provider, raised GBP 7 million (~USD 8.4 million) led by EnBW New Ventures, Foresight Group, and Gresham House. This brings its total funding to USD 17.7 million, bringing its post-investment valuation to USD 42 million. 

The company plans to use the funds to achieve two primary objectives. The first is to expand the company's reach by investing in internal growth, which includes collaboration with the New York City Department of Transportation (NYC DoT). With Viva's sensors installed in several New York boroughs, the city authorities can use the data to prioritize safety and infrastructure projects in the areas that need them the most. The second objective is to broaden VivaCity’s product line. The company aims to create a range of products that address the road transport industry's three main challenges: safety, sustainable transport, and network optimization to reduce congestion. 

VivaCity Labs also stated that it had experienced substantial growth in 2022, with its global sensor network recording 20+ billion road user counts, a 48% increase in the number of sensors in the market, and a 94% contract renewal rate among its customers. The company's team has also grown by 20% and it has moved into larger offices in Shoreditch and made key hires.

Analyst QuickTake: The additional funding the firm secured along with its growing valuation is a reflection of the strong performance experience in 2022. The company's decision to focus on a North American expansion is likely a strategic move aimed at capitalizing on this growth and expanding its market presence beyond Europe and Australia.​​