CitySwift, a Galway, Ireland-based transport data company, closed a funding round of €2m.
The round, which brought total funding to date to €3.5m, was led by Irelandia Investments, Act Venture Capital, Mike McGearty (former CEO of CarTrawler), and other Irish transport entrepreneurs.
The company intends to use the funds to speed up product development and the hiring of 25 new positions, in Ireland and remote, over the next twelve months. The hires will be across commercial and technical roles including business development, customer success, product, data science and engineering, accelerating the expansion of the business in the European market, where they are already working with a number of public authorities.
Founded in 2016 and led by Brian O’Rourke, CEO, CitySwift is a specialist data engine that powers modern bus networks by using big data and machine learning. The platform augments and integrates with existing bus technology systems, providing an understanding of network performance and enhanced network planning with reduced timescales. The SaaS platform visualises a view of a cities mobility data and creates an operational plan and schedule simulations that orchestrate the movements of passengers and every vehicle in a city-wide transportation ecosystem, enabling public transport operators to choose the best options available.
The latest solution, a passenger-facing bus capacity checker using AI predictions, works like Google Maps but with the added feature that passengers are able to see how busy their bus is going to be up to two weeks in advance of travelling. It generates dynamic predictions of bus loadings to inform passengers’ journey choices whilst capacities are restricted and as new travel patterns emerge. Passengers can access a colour-coded timetable of bus routes, which shows what buses are likely to be busy or have space, on a stop-by-stop basis.
FinSMEs
24/06/2020