Transport data specialist Alchera raises £2.7M

What happened

A Cambridge-founded startup that leverages AI to help cities manage roads and public transport more efficiently has raised £2.7m in seed funding, it said today. Alchera Technologies has raised the funds from Maven Capital Partners through the British Business Bank’s South West Investment Fund, which led the round with a £2m investment.

Other investors include the Baves Entrepreneurship Fund and The FSE Group, with funding also from Innovate UK’s Investor Partnership programme. Existing investor Cambridge Applied Research also participated in the funding round.

Alchera Technologies is a UK AI and data company, founded in 2016, that helps local authorities, highways operators and their advisors make decisions about road and bus networks. Its platform combines multiple transport and contextual data sources, using proprietary machine learning to show how networks are performing and where to act.