Zipabout secures £1.4m from Midven, First Derivatives, and Founders Factory to fund European expansion
Midven led the investment round to support international growth and product development.
Zipabout provides a big data and communications platform that helps transport operators improve passenger experiences. The company works with major transport names to deliver personalised real time travel information.
Transport technology specialist Zipabout has secured £1.4m in a seed funding round backed by Midven, First Derivatives, and Founders Factory. The capital will be used to support international expansion into Europe, grow the team, and accelerate product development for its Passenger Connect platform.
The company operates a big data platform designed to help transport operators manage network capacity and communicate directly with travellers. The latest injection of funds will allow the firm to scale its operations and extend its reach across various transport sectors.
Midven led the investment round through the Midlands Engine Investment Fund, with participation from existing and new backers. The funding marks a significant milestone for the business as it establishes its new headquarters in Birmingham.
From the founder
"At Zipabout we envision a future where every transport decision is based on genuine knowledge and true insight. This significant investment from MEIF, supported by First Derivatives and Founders Factory, will enable us to offer invaluable knowledge and insight to policy-makers, transport operators and travellers through a range of innovative, easy-to-use products."
Alex Froom
Founder and Chief Product Officer at Zipabout
Investor perspective
"We believe there is a large market for the Passenger Connect product, and an even larger market for the additional functionality currently in development. We are excited to lead this consortium, with Kx providing in-depth technological knowledge and Founders Factory having helped guide Zipabout to this point."
Roger Wood
Director, Midven
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
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About the company
Zipabout
Zipabout develops transport technology that enhances the passenger travel experience.