Zeelo, a London-based travel tech startup, has secured $14 million in a fresh Series A ‘extension’ round of funding. The new investment was led by FlatzHoffmann and was joined by IREON Ventures with an aim to hire new employees, release new tech products, and expand business operations in the United States.
In an era where the daily commute has become a significant factor in employee well-being and overall productivity, innovative solutions are emerging to transform how we travel to and from work. Zeelo is a dynamic startup that offers software solutions to help companies determine the most efficient routes for their shuttle buses, catering to both employee shuttles and school bus companies.
Traditional shuttle services often follow rigid routes, leading to empty seats and unnecessary delays. The company takes a data-driven approach, leveraging advanced algorithms and real-time data analysis to craft optimized routes that adapt to the dynamic needs of commuters.
This innovation not only ensures that employees have a more efficient journey to work but also contributes to reduced traffic congestion and lower carbon emissions. By optimizing routes based on demand patterns, Zeelo maximizes occupancy rates, making the most of available resources while enhancing the overall experience for passengers.
Zeelo said it has already secured contracts with Fidelity as well as two “leading multi-site corporate enterprise clients, including the world’s leading e-commerce marketplace and a global shipping and logistics business.”
Sam Ryan, co-founder, and CEO of Zeelo, said in a statement: “Developed markets are underserved for daily mass transportation needs, and we have seen increased demand for our transit-tech solution in the United States over the past 12 months. Due to this demand, we’ve had a growing number of requests from shuttle operators to leverage our technology to improve their client relationships and streamline operations. This new capital will accelerate Zeelo’s expansion across the US for an accelerated rollout of large-scale, multi-site transportation contracts, with some of North America’s biggest household brands, as well as further investment in our software offering.”
Before the aforementioned developments, Zeelo had secured a notable investment sum of $19.6 million from esteemed backers including ETF Partners, InMotion Ventures, and angel investors. The company initially garnered $1.6 million during its pre-seed stage, followed by a seed investment of $6 million. Progressing further, its Series A funding journey began with an initial infusion of $12 million, subsequently augmented by the Series A extension of $14 million as detailed above. The cumulative result of these funding phases culminated in a substantial Series A total of $26 million, thereby contributing to Zeelo’s impressive tally of $33.6 million in raised capital.