CitySwift has added several new products to its cloud-native, data-driven platform aimed at public transport operators.
Galway-headquartered transport tech start-up CitySwift has closed a Series A funding round of €5m.
This brings CitySwift’s total funding to date to €8.5m. In 2020, it raised investment led by Irelandia Investments, Act Venture Capital and former CarTrawler CEO Mike McGearty.
All these investors participated in the company’s Series A funding round, which also saw investment from Enterprise Ireland and the Western Development Commission.
CitySwift uses data and AI to help the public transport sector to make better decisions around factors such as traffic, routes and passenger numbers.
Founded in 2016, CitySwift has made several lucrative partnerships over the past few years. In January of this year, the start-up partnered with the New York Metropolitan Transportation Authority, and in 2021 it inked a partnership deal with the UK’s largest bus operator outside London.
With the fresh funding, CitySwift will use its cloud-native, data-driven platform to help transport providers build resilience against ongoing issues including fuel hikes, driver shortages, funding uncertainty and Covid-19 recovery.
It has already unveiled some updates to its platform. As well as the introduction of a new-look website, the company is expanding its overall product offering.
A new Evolve module will deliver scenario planning for AI-powered bus timetabling, as well as movement pattern simulation for accurately matching frequency with demand.
Meanwhile, the Discover tool encompasses a range of dashboards catered to different pressure points across transport organisations. These dashboards include driver performance for punctuality insights and driver retention, as well as demand forecasting for understanding how service changes will impact passenger demand and revenue.
According to Brian O’Rourke, CitySwift co-founder and CEO, the company is entering a “new era” focused on preparing partners for “a greener, cleaner future of mobility”.
The Galway company now has a team of 65 employees.
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.