Miovision raises $120m to develop traffic platform

Miovision has raised $120 million to further develop its smart traffic platform.
By Ben Spencer March 4, 2020 Read time: 1 min
Miovision raises funds to develop smart traffic platform (Source: © Purplecat | Dreamstime.com)

The company says it will use the Internet of Things (IoT) network of Telus Ventures – which led the funding round - to provide traffic signals allowing cities to remotely access, analyse and action data generated at intersections.
 
In 2017, Miovision launched the smart traffic platform to helps cities modernise their existing analogue traffic signals by adding connectivity and video-based, multimodal traffic measurement and analysis.
 
The Telus investment was supported by investors led by McRock Capital, which puts money into industrial IoT companies. RBC Capital Markets acted as Miovision’s exclusive private placement agent for this round of investment.

 

Urban Traffic Control

For more information on companies in this article

Related Content

  • Dhyan helps Maine manage streetlights
    November 4, 2021
    StreetMan lets cities control streetlights, cameras and IoT sensors
    Read More
  • Iteris to focus on smart cities
    February 19, 2018
    Iteris will be at Intertraffic Amsterdam 2018 with a focus on smart cities. As the company points out, a smart city is fueled by data: Iteris is a provider of that necessary data to help improve mobility throughout communities and get any city on the road to becoming a smart city. Iteris will be highlighting its smart sensor detection and performance analytics. These provide government agencies and transportation stakeholders around the world with the necessary data to improve mobility
    Read More
  • Westly Group completes Cleverciti’s $15m funding round
    May 4, 2018
    An investment from Silicon Valley-based venture capital firm Westly Group has completed smart parking technology firm Cleverciti Systems' $15m funding round, supporting the latter’s development of smart city environments. Westly Group is a utility, energy and sustainability company – which means the partnership will provide Cleverciti with access to international utility companies whose utility poles are intended to become future data hubs for smart cities. Thomas Hohenacker, Cleverciti founder and
    Read More
  • Autopilot highlights shape of Things
    March 30, 2020
    Driverless vehicles require rich data to operate safely, and a European consortium is harnessing the Internet of Things to help.
    Read More

Highlighted Content