All Updates

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Funding
Spare raises USD 10 million in growth capital funding to develop its platform
Smart Mobility Information
Jun 5, 2024
This week:
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Smart Mobility Information

Smart Mobility Information

Jun 5, 2024

Spare raises USD 10 million in growth capital funding to develop its platform

Funding

  • Spare, a multimodal transport management platform, raised USD 10 million in growth capital led by CIBC Innovation Banking.

  • The company plans to use the funds to accelerate the development of its human-centric AI, aimed at enhancing platform interactions for both staff and riders.

  • Spare offers a transit solution that uses AI to manage public transit services. The company’s platform is used by transit agencies globally, including Dallas Area Rapid Transit, Winnipeg Transit, and AC Transit, allowing them to offer real-time, responsive, and adaptive transportation solutions that meet individual riders' needs.

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