Tech firm in city centre move after investment
A TECH firm has relocated its head office to Birmingham city centre after securing £1.35 million in new investment.
Zipabout works with transport operators with the aim of improving the passenger experience through its data and communications platform to predict and manage the flow and capacity of transport networks.
The company has agreed a new funding deal with the Midlands Engine Investment Fund’s Equity Finance Fund worth £650,000, with additional capital from First Derivatives and Founders
Factory.
The deal has enabled Zipabout to relocate its headquarters from Oxford to Colmore Circus and will support the deployment of a new tech platform aimed at helping operators provide personalised transport information to passengers.
It will also support the creation of 24 jobs over the next four years and expand the firm’s focus from rail to other sectors such as aviation and shipping.
Zipabout was founded in 2011 by Alex Froom and Daniel Chick and grew out of a project the pair built for Transport for London and the 2012 Olympics.
Mr Froom said: “We envisage a future where every transport decision - by individual commuters, planners, investors or operators - is based on genuine knowledge and true insight.
“This significant investment will enable us to reach more transport operators and transform how they communicate with their customers.
“We have some ambitious targets and this extra capital allows us to continue investing in the team and recruiting new talent to help drive the company forward.
“It’s exciting times for Zipabout and moving our HQ to Birmingham is just the start.”
Roger Wood, director with Midven which manages the Equity Finance Fund, added: “It is really exciting for Birmingham, with its strong links to the transportation sector, that Zipabout has located its head office in the city as part of this investment.
“We believe there is a large market for its product and an even larger market for the additional functionality currently in development and are excited to lead this consortium.”