Travel AI secures £190k in an angel round to advance transportation software and app pipeline.
The angel round was anchored by London Business Angels and an LBA syndicate.
Travel AI is a London based transportation software specialist that provides data insights on travel personalisation and context awareness.
London based transportation software specialist Travel AI has secured £190k in an angel round of funding. The investment includes £150k from a sector specific lead London Business Angels member and the LBA SEIS Roundtable Syndicate Fund 2012.
The company has built a data insights platform focused on travel personalisation and context awareness, currently serving eight blue chip clients. The proceeds will be directed towards software improvements, commercialising travel data sets, and developing an application pipeline featuring automated mileage expense claims and travel surveying services.
Andreas Zachariah, CEO of Travel AI, noted the value of bringing in angels with sector, founder, and exit experience. Anthony Clarke, CEO of London Business Angels, cited the firm's active customer base and scalable platform as key drivers for the co-investment.
From the founder
"We’re delighted with the calibre of angels we have recruited to join the team. Bringing with them sector, founder and exit experiences to help us move faster. The next few months offer us opportunities to grow our profile, launch product and extend our understanding of the market. So the team are very excited to be at the vanguard of context sensing and look forward to solving real world business problems while generating new insight in the movement of people and goods."
Andreas Zachariah
CEO at Travel AI
Investor perspective
"Travel AI has developed a highly innovative software platform in the exciting travel and location-based services sector which is already being actively used by a number of well-known companies and has the ability to be scaled significantly. Our LBA SEIS fund has co-invested alongside a sector specific lead angel whose experience and contacts are set to be a major asset to the company as it seeks explosive growth."
Anthony Clarke
CEO, London Business Angels
Use of funds
- 01Continue product development
