GridMatrix, a San Francisco, CA-based provider of a cloud platform for traffic analytics, raised $3.5M in seed funding.
The round was co-led jointly by 8VC, Cota Capital, and included participation from Alumni Ventures Group (Intensity Ventures), The Y Startup Index, and several angels who have extensive experience in building cloud-based software solutions that can be used for municipalities.
This company intends to use the new capital to accelerate deployments in the US & Europe, as well as support the expansion of its data science and software engineering teams.
Led by CEO Nick D’Andre, GridMatrix provides a cloud platform for traffic analytics, which 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 the sensor to screen and provides cities with a real-time data stream quantifying everything from traffic light performance to the occurrence of a life-threatening accident.
The software platform can be used with existing sensors, such as cameras, as well as newer sensing technologies like LiDAR. It is also scalable and easily deployable on a global basis.