Scania Growth Capital becomes the lead investor in the USD 10 million series A for German company Vialytics. European market leader Vialytics has developed an AI-powered Road Management system for municipalities, and the investment will help the company drive its global scaling.
Scania Growth Capital, managed by East Hill Equity, a company with extensive experience from venture capital investments in the B2B environment and offices in Stockholm and Berlin, today announces its investment in the Stuttgart based company Vialytics.
Vialytics offers a solution for road maintenance management of municipalities, counties and infrastructure operators. The new AI-based software automatically records and evaluates the condition of the road infrastructure using a standard smartphone. The data can also be provided by municipal vehicles, such as garbage trucks or buses.
“Vialytics is an ideal fit for Scania Growth Capital’s portfolio,” Christian Zeuchner, partner at East Hill Equity, explained. “The system supports our focus on mobility and AI solutions. Municipalities are now ready for digitization and this opens up for an attractive market. With the Road Management System, Vialytics found the right gap to be successful in the long term.”
The business model is a SaaS model with sales based on the size of the road network covered. A smartphone attached to the windscreen uses a motion sensor to record vibrations, a camera delivers pictures and the GPS receiver determines the location. The collected data is evaluated by the Vialytics system’s artificial intelligence, and the data is made available to the municipality in a geographic information system. Damage can hence be automatically detected and necessary maintenance measures can be efficiently planned.
“This investment makes it possible for us to accelerate our global expansion. We have a strong traction with over 300 customers in predominantly Germany and France,” Patrick Glaser, CEO and founder of Vialytics, said. “We’re already expanding our range of services, and aim to double the number of employees to 120 in the next two years.”