A technology platform behind an AI-driven productivity tool is the only Scottish start-up to secure support from a new investment pool.
Mapify, launched in Edinburgh just month ago, has developed the tool to help companies better manager their assets.
It has been selected as one of 14 fledgling businesses to receive a share of £1.7m being distributed by global investor Antler, which backed European venture Lovable.
Mapify was selected from a pool of almost 100 early-stage ventures.
Chief executive Hamish Geddes, who set up the business with Selby Cary, said: “Six months ago Selby and I walked into Antler with a stubborn idea we just couldn’t shake: that logistics operators shouldn’t have to run their most critical assets on spreadsheets.
“Since then, we’ve been working side by side with operators, testing our platform in warehouses, ports and yards, and shipping features that cut admin hours and asset downtime.
“Partnering with Antler in their new cohort is further validation of the problem we’re solving and the results we’re already delivering.
“Logistics downtime costs the global economy billions, and our mission is to put powerful, easy-to-use tools into the hands of every logistics manager to reduce that burden.”
Mr Cary, chief product and technology officer, added: “Antler’s backing allows us to accelerate product development and bring advanced AI features, like our conflict resolution engine, to market faster. These tools have the potential to save enterprise customers millions, while making operations more efficient and resilient.”
Antler partner Jed Rose said: “Mapify is exactly the kind of company we want to back at Antler. A world-class team solving a massive problem with immediate customer impact.
“They’ve already proven their platform can surface hidden losses and deliver a return on investment from day one, while building towards features with the potential to save enterprises millions. Hamish and Selby have the rare mix of vision and execution that can make Mapify a category leader.”
The two founders have experience in building startups and raising significant funding. Mr Cary previously scaled TestCard from pre-seed to raising £20m in Series A funding.
Mr Geddes built Lenz Labs, securing contracts with Network Rail and the Department for Transport, raising £850,000. He co-founded the University of Edinburgh’s Hyperloop venture, Hyped, where he was head of operations.
#AIdriven #logistics #tool #raises #funds #pool #Daily #Business