The Algorithm People is a Newcastle, UK–based fleet software company that offers My Transport Planner, a platform for hauliers, fleet operators and final-mile delivery companies. The platform cuts costs and emissions by planning routes more efficiently and can account for electric vehicles by factoring in their limited range to advise deployment. The company raised £500k in funding to accelerate product and commercial initiatives. The round was led by the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia. The funds will be used to develop a new “pay as you go” option to make the optimization technology accessible to small firms and to expand the management, sales and marketing team. The company expects to create 13 new jobs initially.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2019