Miovision closes $15 million convertible note with plans for larger equity round

Funding Rounds

▤ Summary

The funding is structured as a convertible note, with the intention that it will be part of a larger equity round at a future date. In February 2018, Miovision raised $1.5 million from the Ontario government to move into Catalyst137, a 475,000 square feet hub dedicated to IoT. Miovision also worked with the Canadian government to build the Smart Cities Challenge, which has a $50 million top prize for municipalities. “We’re completely reimagining the intersection from the ground up to take advantage of modern computing power, advances in artificial intelligence and open architecture. The result is a smart intersection that can understand and adapt to the constantly changing conditions of city streets.” As part of the financing, Whitney Rockley, co-founder and managing partner at McRock Capital, has joined the Miovision board of directors.

$ Funding

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Amount $15.0M Total raised
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Date May 7, 2018 Announcement date
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Investors McRock Capital Lead investors
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Company http://www.miovision.com Funded company

▥ Classifications

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applications
Collaboration & Communication

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Labels
Intelligent Transportation Systems Traffic Management Software Adaptive Signal Control

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