Smart Mobility Startup Valerann Raises $5 Million Seed Round, Tech.eu Reports

Tel Aviv-headquartered Valerann Ltd., a company developing a wireless, IoT road monitoring system to provide real-time, high-resolution information, has raised a $5 million seed round, European tech news website Tech.eu reported Friday. The round was led by Rio Ventures Holdings and 2B Angels, with participation from Spanish telecommunication company Telefonica SA.

In November, Valerann announced a partnership with the U.K. business of Robert Bosch GmbH, and Jaguar Land Rover, and six other organizations to build a "holistic autonomous vehicle data marketplace" in the U.K. The company also has a London office.