Investors pool over £2.5m into ride share startup Liftango
East Lothian, Scotland-based shared mobility platform Liftango has received over £2.5m in an investment round.
Maven VCTs contributed £1.25m, with a further £1.25m having come from Scottish Enterprise and “a significant but undisclosed investment” amount from prior supporters.
“Liftango is growing at such a fast pace because of the extremely good thematic trade winds behind us,” said Kevin Orr, CEO of Liftango.
“Globally we are seeing corporates and government entities introduce our sustainable transport solutions that align with their sustainability strategies.”
The company is used by organisations across the world for the planning, launching and scaling of shared mobility programmes. Applications count carpools, fixed-route shuttle transit and on-demand buses.
Customers of Liftango include Transport for West Midlands and National Express, who have signed a 5-year contract for its Ring & Ride service.
Maven prior to this round led the mobility firm’s $10.4m round in January of 2022.
Martin McLaren, Partner, Maven, said: “Following our initial investment in December 2021, Liftango has achieved notable commercial traction, helping transport operators modernise services to improve efficiencies.”
Further capital raised by Liftango will go towards driving growth in new markets and increasing its presence in established locations.
In March, Maven reached a total investment of £70m into North West of England companies.