Investors added $36 million to a funding round initially announced in April for the Kitchener, Ont.-based smart-transportation company. Telus Ventures, Maverix Private Equity, Export Development Canada, McRock Capital, HarbourVest Partners and BDC Capital’s Growth Venture Co-investment Fund increased their initial commitments, “thanks to accelerating opportunities in the marketplace,” Miovision said in a press release. (The Logic)

Talking point: The company plans to use the capital for product development and to fuel organic and inorganic growth, in a bid to capture more of the market. It’s made a string of acquisitions in the last two years, including buying Global Traffic Technologies, which this first tranche of the latest growth round helped finance. Speaking with Tony Florio, director of communications at Miovision, on the company’s “The Intersection” podcast, investor Whitney Rockley praised Miovision as “probably the one company that I’ve come across over a decade that has consistently been able to convert one dollar of outside equity into at least one dollar of trailing 12-month revenue.”