Cyvl.ai Secures $6 Million in Funding
Cyvl.ai, a Somerville, MA-based enterprise AI solutions for transportation infrastructure, has secured $6 million in funding.
Cyvl.ai, a Somerville, MA-based enterprise AI solutions for transportation infrastructure, has secured $6 million in funding.
Investors
The round was led by Companyon Ventures, with participation from Argon Ventures, AeroX Ventures, and Alumni Ventures. Notably, existing investors such as MassVentures, Launch Capital, RiverPark Ventures, Launchpad Venture Group, and Hub Angels also continued their support.
Founded in 2016, Companyon Ventures is a venture capital firm based in Boston, Massachusetts. The firm prefers to invest in business-to-business (B2B) software startups based in North America.
Cyvl.ai Use of Funds
The newly acquired funds will mainly go towards bolstering collaborations with engineering firms and government clients. Additionally, Cyvl.ai plans to invest in the development of new technologies to address a broader range of infrastructure challenges, thus making infrastructure management more efficient, safer, and adaptable.
About Cyvl.ai
Founded by Daniel Pelaez, Cyvl.ai is a company that provides AI-powered mapping and management solutions for the physical world. The company offers end-to-end solutions that empower asset managers to digitize and analyze infrastructure efficiently. Their technology, which includes vehicle-mounted LiDAR sensors and cameras, provides invaluable insights into infrastructure conditions, thereby streamlining inspection processes, reducing costs, and enhancing safety. Cyvl.ai assists governments in optimizing civil infrastructure through the use of 3D LiDAR sensors and data processing algorithms. Its mission is to connect the physical and digital worlds for governments, engineers, infrastructure owners, and more.
Funding Details
Company: Cyvl, Inc.
Raised: $6.0M
Round: Unknown
Funding Month: March 2024
Lead Investors: Companyon Ventures
Additional Investors: Argon Ventures, AeroX Ventures, Alumni Ventures, MassVentures, Launch Capital, RiverPark Ventures, Launchpad Venture Group, and Hub Angels
Company Website: https://www.cyvl.ai/
Software Category: Mapping Solutions
