CitySwift, an Irish multimodal mobility management platform, raised EUR 5 million (~USD 4.9 million) in a Series A funding round led by Act Venture Capital with participation from existing investors Irelandia Investments, Western Development Commission, and Enterprise Ireland (96% equity stake in CitySwift) bringing its total funding to EUR 8.5 million (~USD 8.4 million). 

The company intends to use the funds to accelerate its expansion plans in the transportation sector to combat issues such as fuel price increases, shortage of drivers, financial uncertainty, and Covid-19 recovery.

In addition, the company launched a suite of products including 1) the Evolve module an – AI-powered solution designed for scenario planning of bus timetables 2) a movement simulation and analysis software to allocate resources based on market conditions and 3) the Discover offering – a range of dashboards designed to support customer pain points such driver performance and demand forecasting. 

The company also reported that it entered the North American market in January 2022 by partnering with New York's Metropolitan Transportation Authority to improve the customer experience and reduce carbon emissions using its AI-powered solution to forecast passenger capacity as part of its 1-year pilot project.