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Way ahead - RoadCloud

News

RoadCloud secures significant funding to fuel growth



HELSINKI, Finland, 3 June 2019 – RoadCloud, a connected vehicle data platform based in Finland which provides real-time information for road transport systems and services is excited to announce today a significant funding from Business Finland.

The Young Innovative Companies funding consists of three phases and sum up to 1.25m€. The company plans to use the new fund to accelerate international expansion and comprehensive development of business activities starting with Central Europe. RoadCloud has successfully validated their technology and data-driven business model in Scandinavia by continuously improving digital winter road maintenance efforts in Sweden.

“We see an opportunity to be part of the disruptive technology growth in the automotive markets globally. With our experienced team, we are confident our technology can enable autonomous driving in diverse weather conditions and the company’s mission to make roads safer worldwide.” said Ari Tuononen, CEO of RoadCloud.

RoadCloud has previously received several funding from Business Finland and its predecessor TEKES. RoadCloud had used the Innovation Voucher to design an early prototype. With TEMPO, RoadCloud was able to complete the international business plan and market survey for global growth. An R&D loan was used to design RoadCloud's scalable hardware and data services. In addition to that, the devices are manufactured in Finland. Now, NIY funding is a logical continuation for previous successful projects and the timing could not be better to aggressively scale data-driven business enabling the future of mobility.

The Young Innovative Company (NIY) program aims to accelerate the global growth of rapidly growing companies in Finland. With this goal in mind, the funding from Business Finland enables RoadCloud to provide new technology and data solutions globally and strengthen Finland as one of the leading countries in developing and building intelligent transportation systems.

About RoadCloud Oy
RoadCloud is a connected vehicle data platform that provides real-time information for transportation services and systems. We are building the future of mobility and enabling autonomous driving by providing real-time road weather and condition information with our slippery road alert technology and road friction intelligence. Our data consists of local traffic & road weather information, road friction and quality, and information available from vehicle CAN-buses. For more information, visit www.roadcloud.com.

Download press release in Finnish here.

For further information, please contact:

Ari Tuononen
CEO
+358 50 5604702
ari@roadcloud.com

Pua Sze Yuen
Head of Marketing
+358 41 4947895
puasze@roadcloud.com
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