German AI-powered road infrastructure SaaS startup vialytics nabs $10m Series A funding to accelerate global expansion

German AI-powered road infrastructure SaaS startup vialytics nabs $10m Series A funding to accelerate global expansion

Published: 20-01-2023 10:07:00 | By: Pie Kamau | hits: 3201 | Tags:

European market AI-powered road infrastructure SaaS startup vialytics has secured a $10 million Series A investment led by venture capital investor Scania Growth Capital with participation of existing investors EnBW New Ventures, and Statkraft Ventures.

The fast growing company has developed an AI-powered Road Management System for infrastructure owners such as local authorities. With the investment, vialytics is driving its global expansion.

The vialytics system automatically collects and analyzes the condition data needed for regular maintenance and upkeep of roads. This also helps municipalities to keep their roads safe. Road rehabilitation measures are effectively planned on the computer using the vialytics road infrastructure SaaS tool - this is how sustainable road management works today.

Already 250 cities and towns in Germany and 50 more in France are working with the vialytics system. The Stuttgart-based company has customers also in Austria, Switzerland, Slovenia and the Czech Republic. Part of the growth strategy is extensive further development of the core product of automated road assessment.

Danilo Jovicic-Albrecht, Co-founder, vialytics: “We invented the SaaS category of automated road management systems. This gives us the unique opportunity to develop a product from scratch that covers the users' workflows.”

Most recently, workflow features for bike lanes and winter road maintenance were released. Now, the development team is working at full speed on the automatic detection of defective manhole covers and water drains. In his role as Chief Revenue Officer, U.S. entrepreneur Andy Kozma supports vialytics in the rapid entry into the American market. With its "Build Back Better" maxim the US government is providing more than $100 billion for the rehabilitation of roads and highways. 

Theodor Schulte, Investment Manager and current investor, EnBW New Ventures: "vialytics' unique offering transforms the management of one of the most relevant and largest assets - roads. The company has developed extremely well since our initial investment. We are convinced that the team will accelerate the company's growth even further based on this investment and the participation of Scania Growth Capital."

Steffen Funck, Managing Director, Statkraft Ventures: “We are convinced that vialytics' technology will ensure safer and cost-efficient roads for many more cities across Europe and the US, especially in times of tight public budgets and labor markets. We look very much forward to continue supporting vialytics' expansion."

www.vialytics.com