GridMatrix Raises $3.5M in Seed Funding
GridMatrix, a San Francisco, CA-based provider of a cloud platform for traffic analytics, raised $3.5M in seed funding.
The round was co-led by 8VC and Cota Capital, with participation from Alumni Ventures Group, Intensity Ventures, The Y Startup Index, as well as several angels with deep experience building cloud-based software solutions for municipalities.
This company intends to use the new capital to accelerate deployments in the US & Europe, as well as support the expansion of its data science and software engineering teams.
Led by CEO Nick D’Andre, GridMatrix provides a cloud platform for traffic analytics, which combines edge sensor data with cloud-based data sources to eliminate urban traffic congestion, accidents, and emissions. The platform’s proprietary cloud architecture delivers live data in under a second from sensor to screen and provides cities with a real time data stream quantifying everything from traffic light performance to the occurence of a life-threatening accident.
Compatible with both existing sensors such as cameras as well as next-generation sensing technologies such as LiDAR, the software platform is scalable and can be deployed on a global scale.
FinSMEs
25/04/2022
SOURCE https://www.finsmes.com/2022/04/gridmatrix-raises-3-5m-in-seed-funding.html