London-based Zeelo, a smart bus platform, has secured $23M (nearly €19.83M) in a Series B funding round led by Blue Earth Capital.
The round saw participation from Direttissima Growth Partners and Peter Bauer’s family office, who continue to support Zeelo’s long-term vision.
Kayode Akinola, Head of Private Equity at Blue Earth Capital, says, “Our Private Equity team is excited to partner with Zeelo on their mission to decarbonise and democratise access to transportation.”
“Zeelo’s ability to shift commuters from cars to shared bus trips and optimise routes delivers significant GHG reduction potential and supports our focus on efficiency gains, while their role in accelerating adoption of EVs in the shuttle market aligns well with our electrification theme, an important pillar towards decarbonisation.”
Transforming shared mobility with AI-powered technology
Founded by Barney Williams and Sam Ryan, Zeelo operates a Transportation-as-a-Service (TaaS) model that combines AI-powered technology with trusted local operator partnerships.
The company’s proprietary routing software and transportation management platform automate the complexities of shared mobility, from route design to incident response.
This technology-driven approach allows Zeelo to provide more efficient, sustainable transportation solutions that serve frontline workers, corporate employees, and students across thousands of routes.
The company reached profitability in its core markets of the UK and Ireland, where it offers managed commuter and home-to-school transportation. Zeelo’s acquisition of Kura in 2024 further strengthened its position in these markets. By partnering with local operators and investing in fleet electrification, Zeelo aims to demonstrate what the future of shared mobility can look like.
The company has already delivered over 7 million rides in 2024 and ensured 10 per cent of its UK trips were fully electric, with the remainder fully offset.
Capital utilisation
Zeelo is focused on providing sustainable, inclusive transportation for frontline workers and students globally. The funding will be allocated to scale the company’s proprietary AI-powered transportation management platform, enhance self-serve capabilities for customers and riders, and explore strategic acquisitions to expand its global platform.
The company will accelerate its expansion across North America while deepening its impact in the UK and Ireland.
Zeelo claims to have demonstrated significant traction in North America with 175 per cent year-over-year revenue growth. It has also bolstered its leadership team this year with the additions of Fraser Cameron as CFO and James Winn, who recently joined as Chief Revenue Officer in the Boston office.
Zeelo co-founder, Sam Ryan, says, “Our mission is to empower opportunity through sustainable transportation. With this new investment, we’re scaling our impact – delivering inclusive mobility programmes that not only reduce CO2 emissions and car dependency, but also connect people to work and education in areas not served by public transits.”
“Our proprietary tech platform and AI-powered operations are driving incredible ROI for customers, while our team continues to raise the bar for service quality. This capital gives us the resources to further integrate with industry partners, including operators, electric and autonomous vehicle providers, and to strengthen our market presence through focused go-to-market and acquisition strategies.”
Accelerating growth across multiple continents
Zeelo serves over 200 organisations across the UK, Ireland, and North America, with a workforce of 51-200 employees. The company has completed more than 12 million rides to date, demonstrating the scale of its operations.
With the new funding, Zeelo plans to continue partnering with electric and autonomous vehicle providers, further enhancing its technology platform, and pursuing strategic acquisitions to expand its global footprint.
The investment comes at a time of significant momentum for the company, which has positioned itself as building “an infrastructure for opportunity; powered by clean tech, operational excellence, and a belief that how you get to work or school shouldn’t hold you back.”
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