Transport AI firm Alchera raises £2.7M in seed round
UK startup Alchera Technologies completes a £2.7M seed round to accelerate development of its transport data analysis platform.
ImportanceLocalEvidenceE3 inspectableWrite-upQuick
Alchera Technologies, a Cambridge-founded AI startup, announced on October 13 that it has raised £2.7 million in seed funding.
The round was led by Maven Capital Partners through the British Business Bank’s South West Investment Fund, which invested £2 million. Other investors include Baves Entrepreneurship Fund, The FSE Group, and Innovate UK’s Investor Partnership programme. Existing investor Cambridge Applied Research also participated.
Founded in 2016, Alchera uses proprietary machine learning to integrate multiple transport data sources, helping local authorities and highway operators make decisions. The company claims its platform reduces analysis time from weeks to seconds. Customers include Lancashire City Council.