Jigcar has completed a £3m seed fundraising round to accelerate Jigcar’s expansion into the rental, fleet and OEM segments and develop new AI and data capabilities.
The round was led by Triple Point Ventures, with participation from Venrex, Concept Ventures and companies from the automotive sector, including Bumper.
Elliott Perks, CEO of Jigcar, said: “We’re delighted by the confidence shown by our seed investors which will help power the next phase of our ambitious growth strategy.
“This funding round will enable us to accelerate our AI product development and build on our early success with dealer groups by driving further growth into the rental, fleet and OEM segments.”
“By building bespoke Transport Management Systems for our clients, we are able to optimise and automate how vehicles move, in a sector still burdened by spreadsheets and manual workflows.
“Jigcar is on a mission to help automotive businesses turn unnecessary transport costs into profit by using our AI platform to move vehicles faster and more efficiently.”
Jigcar will also increasing its workforce with new roles across product, engineering, sales and marketing.
Max Thieler, Investor at Triple Point, said: “Jigcar is transforming automotive logistics by digitising transport operations and reducing reliance on physical paperwork and outdated software.
“Its software has already helped dealer groups save money, move cars more quickly and simplify their transport operations. It has also built strong foundations for applications beyond dealer groups, extending across the whole industry and into new geographies, with the potential to redefine transport altogether.”
Oliver Kicks, Partner at Concept Ventures, said: “We at Concept Ventures have been proud early backers of co-founders Elliott Perks, Rupert Wood and Jackson Jacob. With Jigcar, they are applying deep industry insight to build a business with clear global potential.
“Their application of AI helps automotive businesses turn transport costs into profit – this is exactly what we’re excited to support in this current climate. We’re proud to be backing them again on this next chapter.”
