I’m pleased to share some good news – Miovision has closed a $120 million minority funding round, giving us the resources we need to realize our vision – helping municipalities solve all their traffic challenges.
We’re excited that a world-leading communications company – TELUS – is the lead investor for this round. TELUS will also become the preferred wireless provider for Miovision worldwide. They are investing in us because they see the tremendous potential in providing municipalities with the data they need to effectively manage traffic.
So, what does this investment mean for our customers, partners and stakeholders?
It means we’ll be able to build on our legacy of innovation – accelerating the development of our products and services, increasing their capabilities and efficiency.
To do that, we’ll be hiring more talent – including more customer-facing people to help us understand the challenges you face and more technologists to help us develop innovative solutions to those problems. Overall, we plan to add around 100 people over the next year.
To get a glimpse as some of the new products we have planned, you can join us for our first-ever livestream event – Envision 2020. We’ll explore how Miovision is helping customers make their streets safer for everyone, including some new products to enable multimodal safety.
Traffic is a growing challenge and it’s one we need to grow to help you solve. For more details on the investment, see today’s news release.