RoadBotics collects $7.5 million in a Series A funding round
Category: #business  By Akshay Kedari  Date: 2019-07-17
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RoadBotics collects $7.5 million in a Series A funding round

RoadBotics, an industry leader in road assessment recently collected $7.5 million in a Series A funding round led by venture capital firm Radical Ventures, which is focused on AI. Other investors in the funding round included Wharton Alumni Angels of Silicon Valley & Hyperplane Venture Capital, report sources.

For the record, the online GIS platform of RoadBotics, Roadway, offers decision-makers with an easy way to monitor their road networks, resolve citizen complaints and communicate budget needs to city council. The roads & photos of each ten-foot section are color-coded from red to green, that enables everyone, from a citizen to a field operator, to use them without any training or prior knowledge.

As per sources close to the matter, RoadBotics will utilize this new funding to augment growth & development of new products in order to further aid infrastructure asset managers & local government to get significant and objective data about their roads.

Miguel Dickson, Director of Engineering, RoadBotics, was reported to say that the new product that the company has been developing, uses data in ways that are not available to road managers until now. The firm is building upon its core commitment for providing easy-to-use, objective & easy-to-explain automated assessment. He added, that the new products RoadBotics is introducing will continue to leverage data science & AI to make road management tasks effortless and easily communicable to all the related stakeholders.

Earlier, most local governments & road managers manually inspected their roads for surface troubles, which was followed by subjective data in the decision making for plans to repair roads. RoadBotics has helped around 150 municipalities across the world, who receive the data they need for their road planning. The technology uses machine learning to rate road conditions, which makes the data objective, more cost-effective & faster than traditional inspection methods. The process enables road managers to adopt a more regular inspection schedule.

Source credits: https://www.prnewswire.com/news-releases/roadbotics-raises-7-5m-in-series-a-funding-round-led-by-ai-focused-radical-ventures-300886153.html

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Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

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