Zeelo, the shared mobility service, has closed a £4.25m funding round, which it plans to use to drive deeper into different markets in the UK and new markets abroad, as well as investing in new initiatives.
The round was led by sustainability investor ETF Partners with participation from current investors InMotion Ventures, Jaguar Land Rover’s mobility venture arm, Dynamo and angel investors including Michael Liebreich and Liam Griffin.
Patrick Sheehan of ETF Partners says: “People increasingly recognise the attraction of shared mobility alternatives to private car ownership in cities.
“The Zeelo team identified the opportunity to provide better transport to millions of people outside major cities and are already doing a great job of delivering these new services. We are delighted to support them on their journey.”
Zeelo will use the investment to develop its technology, data and automation and will also invest in new vehicle technologies, on-board experience and drivers in partnership with its coach operators. The company will also look to launch new verticals beyond the existing ZeeloCOMMUTE, ZeeloEVENTS and ZeeloPRIVATE verticals.
Founded in London in early 2017 by Sam Ryan and Barney Williams (pictured), Zeelo provides a personalised shared mobility service for underserved areas using data analytics and exceptional service.
The AI-powered algorithm allows the company to design routes that meet the needs of customers, so they can make the most of their travelling time. The Zeelo platform integrates with a vehicle fleet of over 20,000 coaches across the UK to serve demand.
Zeelo has carried over 150,000 customers since its launch.
