Dynamon, a London, UK-based software company that specializes in developing advanced data analytics and simulation tools for commercial transport and logistics companies, raised £4 million in funding.
The investment was from bp Ventures, which has signed a commercial agreement for Dynamon to optimize lower emission solutions for fleets and develop a premium offer for customers.
The funding forms part of Dynamon’s Series A round, being raised to fully commercialize and scale up its platform and expand its operations in Europe and North America.
Dynamon provides advanced data analytics and simulation software tools that help transport and logistics companies adopt low-carbon energy solutions such as electric vehicle (EV) charging infrastructure as they look to electrify their fleets.
The company’s software and analysis tools are deployed in many countries and help businesses understand actions they can take to help decarbonize their fleets cost-effectively, improving research and trial time.
Angus Webb, CEO of Dynamon, said: “It is our mission to bring the most advanced fleet optimization tools to the transport industry. This is becoming increasingly critical with the transition to electric vehicles requiring both fleets and suppliers to perform complex analysis to ensure that solutions will be robust and cost-effective. We are delighted to be partnering with bp to deliver our software tools to fleets. With a strong heritage in engineering and technology and servicing fleets globally, bp is a perfect partner for Dynamon’s growth.”
Company: Dynamon Limited
Raised: £4.0M
Round: Series A
Funding Month: August 2023
Lead Investors: bp ventures
Additional Investors:
Company Website: https://dynamon.co.uk/
Software Category: Fleet Optimization Sofware
About the Company: Founded in 2015 by Angus Webb, Dynamon is a data-driven software solutions provider for fleets, OEMs, charging infrastructure providers, vehicle leasing operators, and telematics companies. The company is on a mission to make the transition to EVs simple, cost-effective, and profitable. Dynamon work with the global transport sector providing solutions for direct fleets, leasing companies, OEMs, telematics firms, utility consultants, and charging infrastructure providers.
Source: https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-invests-4m-pounds-in-fleet-optimization-software-provider-dynamon-and-announces-commercial-agreement.html