Funding

[Funding alert] SP Tech Solutions Secures €3 million Investment from Vinci HiTech Fund

Mar 26, 2024 | By Startup Rise EU

  • SP Tech Solutions, a leader in the railway industry, secures €3 million Investment from Vinci HiTech Fund
  • SP Tech Solutionsw was Founded by Michal Pawlowski and Piotr Sikorski in 2019.
  • Rail plays a significant role in land-based freight transport, involving complex logistical operations beyond mere scheduling.
SP Tech Solutions, a leader in the railway industry, has successfully completed a new round of financing, securing twelve million Polish Zloty from the Vinci HiTech fund, managed by Vinci S.A.

SP Tech Solutions, a leader in the railway industry, has successfully completed a new round of financing, securing twelve million Polish Zloty from the Vinci HiTech fund, managed by Vinci S.A.

It is a significant milestone for the company, whose innovative solutions designed to improve the efficiency of railway transport companies are widely adopted by major national players such as Lotos Kolej and PKP Cargo.

The 12 million Zloty from the Vinci HiTech fund aims to consolidate SP Tech Solutions' presence in the Polish market and pave the way for expansion into Germany and Western Europe.

Read also - Marseille-based Green PRAXIS Secures € 1.4 million Seed Funding

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Rail plays a significant role in land-based freight transport, involving complex logistical operations beyond mere scheduling. These operations include ensuring the availability of qualified personnel and addressing the logistical challenge faced by European road carriers, who annually cover hundreds of millions of kilometres to transport train drivers to their locomotives. This situation incurs significant costs and underscores the need for optimisation.

SP Tech Solutions responds to this need with the Raily system, a set of tools comprising Raily Taxi, Raily Marketplace, and Raily Cargo. This comprehensive suite offers a robust platform for managing rail logistics, employee transportation, and railway services trading.

According to Eurostat and the Railway Transport Authority report "Rail and alternative modes of transport in Europe 2023" , nearly 17% of European land transport was carried out by rail. This figure might seem insignificant compared to road transport, which accounts for over 78%.

However, it is worth considering the anticipated shifts in the transportation landscape prompted by the European Green Deal's ambitious goals to reduce transport emissions by 90% in the coming decades. At least 30% of freight transport over 300 km is expected to switch from roads to other modes (rail or water transport) by 2030, and by 2050 this figure should already be 50% .

Recent Eurostat and UTK reports highlight that road transport accounts for almost 77% of the greenhouse gases produced by freight transport, in stark contrast to rail, which contributes a mere 0.4%. Without a doubt, the environmental benefits of rail transport further reinforce its value in the context of global efforts to mitigate climate change.

Piotr Wolinski, CEO of Vinci S.A said, "The SP Tech Solutions team understands the needs of the railway sector very well, thanks to Michał's and Piotr's many years of experience in this industry. The digital solutions they offer address key challenges facing the rail sector, including optimising trip planning, reducing operating costs and automating business processes. In a global context, where markets strive for sustainability and CO2 reduction, the innovations introduced by SP Tech Solutions align with the strategic goals related to the future of rail transportation. which manages the Vinci HiTech fund. Market data, as well as regulations on greenhouse gas emissions in transportation in the coming years, allow us to see great potential and believe in the global success of SP Tech."

The firm's latest funding round represents its second successful capital raise, bringing the total investment to nearly 19 million Zloty. The funds will be allocated towards advancing the technology behind Raily and expanding the workforce, with a particular focus on the IT department.

The company aims to strengthen its position in the Polish and German markets, where it is already established and lay the groundwork for expansion into additional Western European countries.

About SP Tech Solutions

SP Tech Solutions, They come up with, develop, and implement brilliant ideas for the railroads together. They provide technological support to one of the biggest and fastest-growing industries in Europe and the world, and a growing number of fans are becoming interested in our solutions.

Read also - Guildford-based Nukoko Raises over €1.3 Million in Seed Funding

With the use of cutting-edge computational algorithms and mobile and internet technologies, they are able to offer solutions that allow for complete control and optimisation of operations occurring in the transportation sector.

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