Stuttgart-based vialytics, an AI-based road management system for cities and communities, announced on Tuesday, January 17, that it has raised $10M (approximately €9.22M) in a Series A round of funding.
The round was led by Scania Growth Capital. Existing investors EnBW New Ventures and Statkraft Ventures also participated in this round.
Scania Growth Capital is a Scania-funded and East Hill Equity-managed investment vehicle that backs B2B tech firms. Scania is a leading provider of sustainable transport solutions. East Hill Equity assists businesses in their growth from conception to profitability through a long-term, flexible, and fair investing approach.
Christian Zeuchner, partner at East Hill Equity, says, “Municipalities are ready for the digital age and vialytics has proven that the GovTech market is extremely attractive. vialytics is convincing a large target group with its SaaS solution.”