We are delighted to announce the successful closure of an equity round with business angel investors, raising over £500,000. The funds raised will progress the commercialisation of our recently developed B2B mileage tracking product and the development of a new mobile app.
After investing close to £1m in R&D to develop the most accurate tracking solution in the market, we are now ready to make it fully available as a mobile app. The new app will enable us to expand our presence in the UK and establish Autotrip as the leading player in the mileage tracking industry.
Our next key phase will be new hires to further strengthen critical departments such as product and business development, as well as allocating more resources to marketing, sales and customer success.
On a personal level, I am delighted that our funding target was met in such a short period of time. I had the opportunity to lead the round and bring in key new investors who have invested alongside me in previous ventures in the automotive tech sector.
This gives me and the whole Autotrip team real confidence in our innovative business solution, and we look forward to growing the business and its service offerings over the coming years.
This funding also proves that businesses all around the world are eager to improve outdated processes and investors are willing to fund new digital solutions, helping organisations be more efficient and focused on their core areas.
Since its inception, Autotrip has quickly grown its customer base and we are now working with hundreds of businesses across the entire country, helping them to gain back thousands of hours of productive work time.
Autotrip helps businesses save time on managing mileage claims. Our plug and play GPS tracker accurately records all trips automatically, whilst our software determines how much businesses can claim as a tax deduction, eliminating the loss of productivity caused by keeping track of mileage manually.
Learn more about how we make mileage simple on autotrip.com.