CityRyde, a Philadelphia, PA-based provider of tools that allow to develop and launch bike sharing deployment, received $345k in funding.
Investors include the Virginia-based New Dominion Angels and PA-based Ben Franklin Technology Partners.
The company intends to use the funds to expand its operations as it brings its Inspire to market.
Co-founded by CEO Timothy J. Ericson and COO Jason Meinzer, CityRyde offers Inspire, a tool that allows bike-sharing programs to track, certify and monetize carbon offset credits gained through the use of their shared bicycles.
The carbon methodology behind the software has been validated under the Verified Carbon Standard (VCS).