UrbanThings raises even more funding
UrbanThings, the company behind UK Bus Checker and Ticketless, has raised £455,000 in new funding. This brings the total raised by the company to £1.5m of capital to date.
The initial capital was raised from an existing pool of investors and was subsequently matched by the UK Government’s Future Fund investment scheme. Announced in May, the scheme has been made available to high growth companies in the UK and aims to stimulate investment in technology and innovation.
Ticketless by UrbanThings is an innovative smart-mobility platform that has been deployed in the UK and Germany to operators such as Ipswich Buses, the City of Detmold and more recently to Transport for London on NHS Nightingale Hospital routes. The platform consists of a passenger app, providing mobile-ticketing and real-time travel information, and cloud-based mobility portal for operators which shows rich passenger and systems data such as automatic vehicle location, live vehicle loading and under/over-served routes. The new funds will be spent on further developing Pre-booking and MaaS components of the platform.
Carl Partridge, CEO at UrbanThings said: “We’re tremendously proud that our existing investors have stood by our vision to disrupt the mobility sector. We’re continuously moving our product forward and this fund raise will allow us to accelerate the development of our Demand Responsive Transit and smart mobility platform allowing transport operators to improve their profitability and increase their ridership.”
UrbanThings software powers more than 130m passenger journeys each year in three continents and goes live to their latest client, Newport Transport, soon.