Cyvl.ai, a Somerville, MA-based company which specializes in enterprise AI solutions for transportation infrastructure, raised $6M in funding.
The round was led by Companyon Ventures, with participation from Argon Ventures, AeroX Ventures, and Alumni Ventures, and existing investors MassVentures, Launch Capital, RiverPark Ventures, Launchpad Venture Group, and Hub Angels.
The company intends to use the funds to expand operations, to establish and grow partnerships with engineering firms and their government clientele, and develop new technologies to address a wider range of industry challenges.
Led by Founder and CEO Daniel Pelaez, Cyvl.ai works for the infrastructure management through its AI-powered mapping technology. The platform utilizes vehicle-mounted 3D mapping sensors and AI algorithms to enhance how engineers inspect and manage physical infrastructure to improve efficiency, reduce costs, and improve safety.
FinSMEs
29/03/2024