finance

Maven leads £5.5 million funding round for transport tech platform Liftango



Maven Capital Partners has led a £5.5m funding round for Liftango, a cloud-based technology platform which enables transport operators to optimise route planning in real-time, based on passenger demand.

The transaction includes a £1.75m investment from the Maven venture capital trusts (VCTs), with follow-on funding from Liftango’s existing investors, which include Transdev, Taronga Ventures and GUD. Scottish Enterprise are also new investors in this round.

The funding should help Liftango reinforce its position as one of only a small number of established global demand-responsive technology (DRT) providers, offering solutions for both public and private sector organisations to create more efficient, cost-effective and environmentally friendly transport provisions.

Liftango has already won contracts with clients including Ikea, Tesla and Unilever.

The technology centres around its three core products, on-demand bus (ODB), fixed-route shuttles and carpool.

The ODB and fixed-route cloud-based platform allows public and corporate transport operators to manage their services on a single platform – a first for fleet operators, giving their passengers a more personalised service while optimising vehicle scheduling and routing.

Additionally, Liftango’s carpool platform helps larger employers and academic institutions to internally match drivers and passengers in real-time to minimise their carbon footprint, reduce parking congestion and create a convenient shared transport experience to and from offices or campuses.

The new investment should help the business take advantage of commercial opportunities in the transport sector, by recruiting several key sales and marketing staff as it looks to scale its operations in Europe and across North America.

Martin McLaren, investment director at Maven, said: “We are seeing a notable shift towards DRT solutions as organisations across the world seek to address parking, congestion, zoning and environmental issues attributed to transport.

“Liftango’s platform offers clients a compelling proposition to tackle these problems head on – we look forward to supporting the team as they set out to capitalise on the positive market dynamics for this innovative technology.

Kevin Orr, chief executive at Liftango, said: “The investment by Maven Capital enables Liftango to continue providing equitable and environmentally conscious transport to those that need it most.”

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