London-based startup Zeelo, which provides organisations with shuttle transportation programmes, has raised $14m (£11m) in a Series A extension.
Founded in 2016, Zeelo develops smart shuttle solutions designed to optimise the efficiency of transport routes. Zeelo works with businesses and schools to reduce commuting time.
Corporate clients can use Zeelo shuttle routes as an employee retention incentive. The idea is that workers save both time and money commuting via “smart routes” instead of driving or using public transport.
“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,” said Sam Ryan, co-founder and CEO at Zeelo.
The latest cash injection, which is an equity-based extension of its £8.6m Series A, was led by FlatzHoffmann, IREON Ventures and a family office based in Boston, US.
“We are convinced of Zeelo’s experienced leadership team and their ability to innovate and execute. They have come very far in building their business, and we look forward to supporting their growth strategy for developed markets,” said Christopher Hoffmann, Partner at FlatzHoffmann.
With the new funding, Zeelo plans to establish a US headquarters in Boston. Chief executive Ryan, along with fellow co-founder Barney Williams, will relocate to the US to establish the North American base.