TLDR:
- Cyvl.ai, a Somerville, MA-based company, raised $6M in funding for their enterprise AI solutions for transportation infrastructure.
- The funding round was led by Companyon Ventures, with participation from Argon Ventures, AeroX Ventures, and Alumni Ventures, among others.
Cyvl.ai, a company specializing in enterprise AI solutions for transportation infrastructure based in Somerville, MA, has secured $6M in funding. The funding round was led by Companyon Ventures and included participation from Argon Ventures, AeroX Ventures, and Alumni Ventures, as well as existing investors like MassVentures, Launch Capital, RiverPark Ventures, Launchpad Venture Group, and Hub Angels. The company plans to use the funds to expand operations, establish and grow partnerships with engineering firms and government clients, and develop new technologies to address a wider range of industry challenges.
Founded by Daniel Pelaez, Cyvl.ai offers AI-powered mapping technology for infrastructure management. The platform uses vehicle-mounted 3D mapping sensors and AI algorithms to improve how engineers inspect and manage physical infrastructure, aiming to enhance efficiency, reduce costs, and improve safety in the process.
This funding round represents a significant milestone for Cyvl.ai and signifies a vote of confidence in their AI solutions for transportation infrastructure. With plans to expand operations and partnerships, the company is poised for further growth and innovation in the industry.
