Stanford-StartX Fund joined others including Total Energy Ventures, Samsung Next and RATP Dev to back public transit management software publisher Swiftly.
US-based public transit operating system software developer Swiftly attracted $10m in a series A round backed by Stanford-StartX Fund, the venture fund aligned to Stanford University’s StartX accelerator, on Friday.
Total Energy Ventures and Samsung Next, respective investment vehicles for oil and gas supplier Total and consumer electronics firm Samsung, also backed the round, as did transit system operator RATP Dev and mobility-focused accelerator Via ID.
Elemental Excelerator, the accelerator supported by impact-led organization Emerson Collective, also supplied Swiftly with series A capital, together with Wind Capital, 1776, Plug and Play, and undisclosed additional investors.
Founded in 2014, Swiftly has created a cloud-based operating system for mass transportation that exploits big data analytics, real-time forecasts and management tools with the objective of improving urban public transport.
Swiftly’s software also taps into third-party integrations which link up other transport modes, the idea being to bring public transit in line with the needs of modern, smart cities.
The company has already secured commissions from more than 55 urban transit networks, and will use the series A capital to further develop its operating system. Swiftly also hopes to add support or integrations for emerging forms of urban transport as they are adopted.
Swiftly previously raised $2.5m in a 2017 round led by Via ID which featured RATP Dev and Samsung Next as well as one of carmaker Ford’s investment arms, Ford Smart Mobility.
