Cyvl.ai, a leader in enterprise AI solutions for transportation infrastructure, announced $6 million of new investments after two years of rapid growth. Companyon Ventures led the funding round, including Argon Ventures, AeroX Ventures, and Alumni Ventures. Cyvl.ai also received support from its existing investors, MassVentures, Launch Capital, RiverPark Ventures,Launchpad Venture Group, and Hub Angels.
Cyvl.ai’s end-to-end solutions utilize vehicle-mounted LiDAR sensors, cameras, and advanced AI algorithms to offer outstanding insights into infrastructure conditions. And this technology streamlines inspection and management processes reduces costs and improves safety for engineers and the communities where it is implemented.
This funding round will be used to establish and grow partnerships with engineering firms and their government clientele. And these collaborations are vital as they enable Cyvl.ai to integrate its technology into the workflow of professionals managing and maintaining infrastructure, thereby broadening its impact.
With this funding round, Cyvl.ai will invest in developing new technologies to support additional infrastructure use cases. And by expanding its solution portfolio, Cyvl.ai aims to address a broader range of industry challenges and make infrastructure management more efficient, safer, and adaptable to modern challenges.
KEY QUOTES:
“Landing this investment is massive for Cyvl.ai. It’s a huge win for our team and a giant leap for the future of transportation infrastructure. In the past two years, our geospatial tech for digitizing and analyzing infrastructure has become a must-have for asset managers across the Nation.”
– Founder and CEO Daniel Pelaez
“What is truly impressive about the Cyvl team is how they managed to find true product/market fit by collaborating with civil engineering firms in the field for a hands-on understanding of their needs. Cyvl brings far advanced AI/ML/Mapping technology to the very established – and antiquated – world of transportation infrastructure just when it needs a better way to be analyzed and upgraded.”, General Partner at Companyon Ventures.
– Firas Raouf, general partner at Companyon Ventures
“We’re writing the enterprise AI playbook for civil engineering firms and governments, removing previously unsolvable barriers for managing the built environment and unlocking billions in savings by enabling fast and accurate data-driven decisions for infrastructure systems at any scale.”
“Together with our customers and supporters, Cyvl.ai is paving the way for a smarter, connected world, ensuring that our world’s transportation infrastructure is intelligently built and maintained for generations to come.”
– Daniel Pelaez, CEO of Cyvl.ai
