CitySwift, a Galway, Ireland-based AI-powered platform for optimizing public transportation, has secured €7 million in funding, totaling €14.5 million to date.
SaaS Investors
The round was led by Gresham House Ventures with €5 million, with participation from existing investors ACT Venture Capital, Irelandia Investments, and the Western Development Commission.
Gresham House Ventures is a growth equity investor specializing in software and digitally driven businesses in the technology, consumer, healthcare, and services sectors.
CitySwift Use of Funds
The company will use the investment to accelerate platform development to provide intelligent data solutions, enhance customer success services, and solidify its position as a transportation data leader in the UK and global markets.
About CitySwift
Founded by Alan Farrelly and Brian O'Rourke, CitySwift is a big data company that 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 uses machine learning to accurately predict journey times and passenger demand, creating optimized timetables that take into account traffic, events, and hundreds of other external factors. CitySwift's client list includes Transport for Wales, Metroline, National Express, Translink, Go-Ahead Group, Blackpool Transport, and East Riding of Yorkshire Council.
Funding Details
Company: Huddl Mobility Limited
Raised: €7.0M
Round: Unknown
Funding Month: February 2024
Lead Investors: Gresham House Ventures
Additional Investors: ACT Venture Capital, Irelandia Investments, and the Western Development Commission
Company Website: https://www.cityswift.com/
Software Category: Mobility Intelligence
Source: https://www.cityswift.com/blog/cityswift-raises-7m-funding-to-extend-data-solutions-for-operators-and-authorities