We are delighted to announce that Lanterne, a Rockstart Energy portofolio company has raised a seed round. The €400k seed round was raised from Rockstart alongside other co-investors. The UK based startup will use the funding to double down on their engineering and data science capabilities.
Lanterne is an award-winning data science and geospatial analytics company based in the UK, Europe, and Australia. Lanterne predicts demand for micro-mobility companies to help them to get more rides, and optimizes the route for fleet technicians, helping them complete the most tasks in the shortest amount of time. Additionally, Lanterne helps mobility companies plan their expansion and monitor their fleet performance. Lanterne is live across 12 locations in the UK and Europe. Driven by advances in AI, increasingly sophisticated vehicle telematics, and the growing utilisation of scalable cloud-based fleet management solutions, the fleet management market is projected to be worth more than USD 45 billion by 2027.
“We’re delighted to close this pre-seed round with Rockstart and our network of angels in the UK, Europe and Australia. We’ll be using these funds to double down on our engineering and data science capability to hit our scaling targets for 2022-2023. Shared mobility is highly dynamic and data-rich, and we’re very proud to be helping these innovative companies transform urban transport.” Alex Barnes, CEO, Lanterne
“Lanterne’s AI-based software platform strongly improves vehicle demand predictions for micro-mobility operators. This allows them to continuously optimize the distribution of vehicles within a city and therefore increase usage and revenues of fleets. It’s a must-have for micro-mobility operators who want to improve the competitiveness of their core processes. We’re delighted to continue investing in Lanterne and its strong team who are driving the development and commercialization of this impactful solution.” Max ter Horst, Managing Partner Energy, Rockstart
The Rockstart Energy fund was closed at €27m earlier this year. The fund is planning to make new investments in the coming months in promising energy startups, which are addressing the following themes: decentralization, decarbonization and digitalization. Rockstart has invested in 19 energy related startups from seven countries since the launch of its Energy fund in October 2020.
More about Lanterne
Lanterne‘s mission is to use data to accelerate the transition to sustainable transport. Lanterne launched in 2019, and has previously collaborated on innovative geospatial projects with the European Space Agency and Innovate UK.