6 years ago

The Algorithm People Raises £500K for Electric Vehicle Fleet Software

  • The Algorithm People, a Newcastle, UK-based fleet software company focused on electric vehicles, raised £500k in funding led by the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia

  • The company plans to use the funds to accelerate development of a new “pay as you go” option, making this type of optimization technology accessible to small firms, and build their management, sales and marketing team, creating 13 new jobs initially

  • The Algorithm People provides hauliers, fleet operators and final mile delivery companies with a platform, My Transport Planner, to cut costs and emissions by planning routes more efficiently

  • The solution can also account for electric vehicles, factoring in their limited range to show organizations how best to deploy them within their fleet.

      • ProblemTechnology

      "making electric vehicles more practical and cost-effective for fleet operators"

      Solution

      "providing a software platform that optimizes routes and accounts for electric vehicle limitations to reduce costs and emissions"

      Covered on