Smart mobility startup Valerann raises US$17 million in Series A funding round
London, UK, February 22, 2022 – Valerann – a UK-based Israeli smart transportation startup – today announces its latest growth milestone, raising US$17 million in Series A funding. The investment will support the increasing demand for the company’s software product – Lanternn by Valerann™ – and will enable its implementation with multiple road operators in the UK, Europe and the Americas.
The round was led by HG Ventures, the corporate venture arm of The Heritage Group. Previous investors RIO Ventures Holdings and 2B Angels also participated in this round.
Founded in 2016, Valerann has since expanded through investments and research and development initiatives to offer data-driven, intelligent traffic management systems using artificial intelligence (AI), data analytics and data fusion.
The latest innovation, Lanternn by Valerann™, is an intelligent transportation solution that helps city and highway authorities make more informed decisions around traffic management.
The company’s technology employs a proprietary Real-Time Data Fusion Engine that applies powerful, state-of-the-art AI and machine learning techniques to combine multiple data sources. These sources include navigation apps, IoT sensors, cameras (machine vision), social media, and connected vehicles. The company leverages cloud and big data technologies to achieve the scalability required to process the increasingly large data streams available today.
This deep fusion of data empowers road network operators – who currently have access to limited data – with real-time, accurate road intelligence to enable faster, better, and more effective analysis and decision-making. Future planning, strategy and prioritisation are also made possible via the software’s predictive analysis tools. This leads to safer roads, reduced congestion, lower emissions, and increased sustainability.
“Our vision is for Lanternn by Valerann™ to become an intelligent transportation software as a service (SaaS) solution that helps city and highway authorities make more informed decisions around traffic management, no matter their size or budget,” said Gabriel Jacobson, CEO and Co-Founder of Valerann.
“We are excited to have received this new strategic funding. It will allow us to grow the company and enhance our product – Lanternn by Valerann™ – and accelerate its implementation worldwide,” Jacobson said.
“We are delighted to partner with Valerann on the next generation of roadway technology,” said John Glushik, Managing Director of HG Ventures. “Safer and more efficient roads are possible with better monitoring capabilities and actionable data. We look forward to backing this team of infrastructure experts to support the evolution of smarter roads and vehicles.”
Valerann is a smart mobility company that operates in the intelligent transportation industry. It started operating in 2016 and has since grown to become a leading provider of advanced traffic management systems.
Valerann was founded by Michael Vardi, Daniel Yakovich, Gabriel Jacobson and Shahar Bahiri. It has offices in London, UK and Tel Aviv, Israel. www.valerann.com
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About HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Indiana, US. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. The team leverages the world-class expertise of The Heritage Group operating companies and research centre to offer a unique value proposition to its portfolio company partners. www.hgventures.com.
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