CitySwift, a Galway, Ireland-based big data company that powers major bus networks, raised €5 million in its Series A funding round and added a new 'AAS' to the growing list of AAS platforms in the form of Mobility-Intelligence-as-a-Service.
Act Venture Capital led the round, with participation from Irelandia Investments, Mike McGearty, former CEO of CarTrawler, Enterprise Ireland, and the Western Development Commission.
This funding will help fast-track CitySwift's further expansion with its data and AI platform, which feeds data to bus networks allowing them to adjust their offering to meet customer demands.
"This new era of CitySwift is one where we are focused on preparing our partners for a greener, cleaner future of mobility, by matching supply and demand across their networks now. CitySwift strongly believes the future is bright for public transport, and mobility intelligence is the key that will unlock attractive, efficient, and green public transport across cities globally," said Brian O'Rourke, CitySwift Co-Founder and CEO.
The company is currently hiring across engineering, commercial, and product.
As part of the new product launch, CitySwift has given itself a facelift with new branding, a website, and a new suite of products.
Company: Huddl Mobility Ltd
Raised: €5.0M
Round: Series A
Funding Month: October 2022
Lead Investors: Act Venture Capital
Additional Investors: Irelandia Investments, Mike McGearty, Enterprise Ireland, and the Western Development Commission
Company Website: https://www.cityswift.com/
Software Category: Mobility Intelligence as a Service platform
About the Company: Founded by Alan Farrelly and Brian O'Rourke, CitySwift is an Irish big data company that powers major bus networks across the globe. Since its inception, CitySwift has built Mobility Intelligence as a Service platform, offering bus network providers the precise insights they need to quickly adapt and operate their networks for efficiency, profitability, and growth. CitySwift's Mobility Intelligence as a Service platform gives bus network providers the always-on insights needed to operate and adapt bus networks with precision. CitySwift's Evolve module delivers scenario planning for AI-powered bus timetabling and movement pattern simulation for accurately matching frequency with demand, resulting in over 5x ROI, a 45% reduction in late buses, and an over 2% reduction in operating hours with existing clients—also equating to significant emission reductions, cost savings, and increases in passenger demand in cities.
Source: https://tech.eu/2022/10/17/irish-mobility-platform-cityswift-closes-eur5-million-series-a-round