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GridMatrix Raises $3.5M Seed Round Led by 8VC & Cota Capital
GridMatrix has raised $3.5M in seed funding in a round 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.
GridMatrix’s cloud platform for traffic analytics 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 truly 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, GridMatrix’s software platform is scalable and can be deployed on a global scale. This new capital will accelerate GridMatrix’s deployments in the US & Europe, as well as support the expansion of the company’s data science and software engineering teams.
GridMatrix is a member of Amazon’s GovTechStart accelerator, California Mobility Center, Intelligent Transportation Society of America, and Qualcomm’s Smart Cities Accelerator. The Intelligent Transportation Society of America has recognized GridMatrix’s products as leading new solutions for sustainable and resilient infrastructure.
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