Galway-based CitySwift has announced it has raised €5 million in its Series A funding round, as well as adding a new ‘AAS’, to the growing list of AAS platforms - in the form of Mobility-Intelligence-as-a-Service.
Act Venture Capital led the round which will help fast track CitySwift’s further expansion with its data and AI platform which feeds data to bus networks allowing them to adjust their offering to meet customer demands. The company is currently hiring across engineering, commercial, and product.
“This new era of CitySwift is one where we are focused on preparing our partners for a greener, cleaner future of mobility, by matching supply and demand across their networks now. CitySwift strongly believes the future is bright for public transport, and mobility intelligence is the key that will unlock attractive, efficient, and green public transport across cities globally,” said Brian O’Rourke, CitySwift Co-Founder and CEO.
As part of the new product launch CitySwift has given itself a facelift with new branding, website, and of course a new suite of products.
CitySwift’s Evolve module delivers scenario planning for AI-powered bus timetabling, and movement pattern simulation for accurately matching frequency with demand resulting in over 5x ROI, a 45% reduction in late buses and over 2% reduction in operating hours with existing clients – also equating to significant emission reductions, cost savings and increases in passenger demand in cities.
“The public transport industry must rethink its traditional ways of operating and shift its focus from supply to demand in order to optimise networks for the future – and data is what will unlock these efficient and optimised networks. Private operators and public authorities require data-enriched insights to inform them on how to best adapt and operate their networks to provide more efficient, reliable and sustainable services,” added O’Rourke.