Alchera secures £2.7 million seed round for transport AI
The British Business Bank’s South West Investment Fund led the financing with £2 million, provided through Maven Capital Partners.
Alchera Technologies said it has raised £2.7 million in seed funding for its transport data business. Founded in Cambridge in 2016, the UK company uses artificial intelligence to support decisions on roads and bus services by local authorities, highways operators and their advisers.
The British Business Bank’s South West Investment Fund led the round, contributing £2 million through Maven Capital Partners. The financing also involved The FSE Group, the Baves Entrepreneurship Fund and returning investor Cambridge Applied Research. Innovate UK’s Investor Partnership programme provided funding as well.
The company’s platform brings transport information together with contextual data and applies its own machine-learning technology to assess network performance and identify areas for action. Alchera says it can shorten transport data analysis from weeks to seconds. The City of York Council is among its customers.
Co-founder and chief executive Anna Jordan said information needed for infrastructure decisions is often spread across different systems, formats and teams. She said combining those sources can help limit disruption caused by roadworks and make transport networks more reliable.
