vialytics, a Stuttgart, Germany-based SaaS startup that developed an AI-based road management system for cities and communities, announced that it raised $10 million in Series A funding.
The round was led by venture capital investor Scania Growth Capital, with participation from existing investors EnBW New Ventures and Statkraft Ventures.
With the investment, vialytics is further driving its international scaling and also used to further develop the intelligent Road Management System.
Patrick Glaser, CEO, and founder of vialytics explains “The goals are ambitious. That's why our great team will grow in all areas," e. The current 60 employees are to be doubled in the next 2 years. Theodor Schulte, Investment Manager at EnBW New Ventures, confirms: " vialytics is revolutionizing the management of one of the most important and largest infrastructures - the road network. The company has developed very well since our initial investment. We are confident that the team will continue to accelerate the growth of the business based on this investment and the participation of Scania Growth Capital.” Steffen Funck, Managing Director of Statkraft Ventures, comments: “We are convinced that vialytics' technology will bring safer and more cost-effective roads to many more cities in Europe and the USA, especially in times of tight government budgets and difficult job markets. We are extremely pleased to continue supporting vialytics' scaling."
vialytics has 250 partner municipalities in Germany and 50 more in France that are already working with the vialytics system. The Stuttgart company also has customers in Austria, Slovenia, the Czech Republic, and Switzerland.
Company: vialytics GmbH
Raised: $10.0M
Round: Series A
Funding Month: January 2023
Lead Investors: Scania Growth Capital
Additional Investors: EnBW New Ventures and Statkraft Ventures
Company Website: https://www.vialytics.de/
Software Category: Road Management System
About the Company: Founded in 2018 by Patrick Glaser, Achim Hoth, and Danilo Jovicic-Albrecht, vialytics is a system solution for the road maintenance management of municipalities that enables municipalities to record road conditions and evaluate them automatically. The company's system combines artificial intelligence with an IoT-enabled sensor and geoinformation system that track the quality of roads, captures images, and sends updated information on upcoming road damages. The company offers a smartphone-based solution that can be installed in any municipal vehicle to permanently monitor pavement defects like cracks or potholes detected by its AI.
Source: https://blog.vialytics.de/newsblog/10-millionen-dollar-series-a-f%C3%BCr-stuttgarter-saas-start-up-vialytics