Veniam, the company that is delivering disruptive technology for connected transportation and smart cities, announced new investors that escalate the raised venture capital so far to $27 million.
Veniam builds wireless networks of vehicles and offers fully managed services that expand wireless coverage in cities, brings high-definition data from vehicles to the cloud, collects terabytes of urban data for smart city applications and delivers robust wireless networks for industrial environment, such as ports and container terminals. The new funding will enable Veniam to expand its technology platform and services, aiming at large cities such as New York, Barcelona, London and Singapore.
This venture-backed tech company based in Silicon Valley, Porto and Singapore, was co-founded by two members of IT, João Barros (CEO) and Susana Sargento. It operates in the city of OPorto the world's largest live vehicle network, including taxis, waste collection trucks and an entire public bus fleet, offering free Wi-Fi to more than 280,000 active customers.
The EU Prize for Women Innovators 2016, first launched in 2011, is in its third edition.
Nine finalists were selected among 64 contestants by a jury composed of representatives of companies, venture capital, entrepreneurs and academics. The finalists will be competing for the top three places, to be announced on March 2016.
Susana Sargento, from IT in Aveiro is one of the finalists. The announcement was made by the Commissioner for Research, Science and Innovation, Carlos Moedas, who praised these women for having “the kind of spirit we need more of in Europe”.
At some point in their careers, all contestants have benefited from EU research and innovation funding and have founded or co-founded a startup with origin in their ideas. Susana Sargento is a co-founder of Veniam in Portugal, which turns vehicles into Wi-Fi hotspots and builds city-scale vehicular networks that collect terabytes of urban data. Veniam has its seed at Instituto de Telecomunicações, where the research was first developed.