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Los Angeles-based software company Automotus, which specializes in traffic monitoring technology management, announced a new US$9 million round of funding. With this latest capital injection, the startup founded in 2017 has raised a total of US$26 million.
According to a statement, investors such as Santa Barbara Venture Partners, Weatherford Capital, BarronKent Ventures, Techstars Ventures, and kineo, along with other sponsors, participated in this round. The transaction consists of US$7.5 million in capital and US$1.5 million in credit.
Founded by Jordan Justus and Harris Lummis while they were students at Loyola Marymount University, Automotus’ platform, which is gaining an increasing presence in the market, uses computer vision to help cities and airports better manage street activity by offering tools for traffic monitoring, data analysis, and automated payments.
“Cities and airports are under enormous pressure to modernize curb infrastructure as commercial traffic grows and autonomous vehicles emerge. This investment allows us to scale our impact and continue to deliver solutions that improve safety, efficiency, and sustainability on city streets,” said Jordan Justus, the company’s CEO.
The growing desire for on-demand transportation services and the boom in retail deliveries have increasingly congested cities, raising the need for more sophisticated management solutions.
Ganesh Vanama, Computer Vision Engineer at Automotus, explained that: “The WHO estimates that around 1.19 million people die each year in traffic accidents, and more than half are vulnerable road users, including pedestrians, cyclists, and motorcyclists.”
The startup’s technology is already being implemented in several cities, mainly in the United States. The funds from this new financing will be used to expand product capabilities, enter new markets, and improve customer support.
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