Accessibility technology company Transreport has secured investment to expand the use of its Passenger Assistance technology to more users and more modes of transport and industries.
Funding for the expansion was led by Puma Private Equity with participation from Pembroke VCT and will allow Transreport to roll out its technology to anyone who needs help while travelling, especially on public transport, and continue expanding into the aviation market.
Launched in May 2021, the technology has been nominated for an Apple Design Award in the Inclusivity Category, and is now one of the most recognised travel assistance apps, with over 100,000 downloads to date assisting millions of passengers with their journeys.
As a sign of its future ambition, Transreport is collaborating with key organisations to improve travel accessibility for disabled and older people throughout both the UK and worldwide and has established a successful partnership with leading Japanese rail operator Hankyu Corporation.
Jay Shen, founder and CEO of Transreport said: “This significant investment marks a key moment in the growth and history of Transreport and is a huge vote of confidence and trust from our investors, Puma Private Equity and Pembroke VCT, in our vision and ability to execute on our strategic plans.
“These funds will accelerate our expansion into the aviation sector and continue supporting our entry into the Japanese market in partnership with Hankyu Corporation, Japan's world-leading railway operator and most importantly provide a better experience for disabled and older people.
Mark Lyons, Investment Director, Puma Private Equity said: “We have known Jay, Waleed and the Transreport team for several years now and are thrilled to be backing them on their next stage of growth. We were initially struck by their mission to transform the travel experience for older and disabled people, who have historically encountered challenges to use public transport.
“Following significant growth, they are now supporting the whole of the UK rail network and we have seen first-hand the significant benefits this is making to users' everyday lives.
“With the planned expansion into new territories and verticals, Transreport's cutting-edge accessibility technology will reach a wider global audience whilst simultaneously creating operational efficiencies for the transport operators.”
Fred Ursell, Investment Director, Pembroke VCT said: “We are delighted to be partnering with Transreport on its journey and are looking forward to witnessing the much-needed transformative impact the business undoubtedly has on the transportation landscape.
“What sets Transreport apart is not just its commitment to democratising transport, but the ingenious manner in which they achieve it. Since 2016, Transreport has been at the forefront of innovation, providing transport operators with state-of-the-art mobility technologies that go beyond conventional solutions, setting new benchmarks for accessibility technology.
“This investment is a testament to our confidence in Transreport's unique approach and ability to redefine industry standards. We are proud to be part of Transreport's journey and look forward to working alongside Jay, Waleed and the team at this pivotal time of growth.”
Waleed Ahmed, chief operating officer of Transreport commented: “Transreport is proud to have demonstrated its ability to innovate and positively impact the transportation sector. We are grateful to Puma Private Equity and Pembroke for coming on a journey with us in our next business chapter to expand the offering of world-leading accessibility technology solutions into the aviation and rail sectors that improve passenger experiences and streamline operations.
“Alongside expansion, another key priority for Transreport is to invest in talent acquisition and research and development for the firm to recruit the best and brightest minds to create an unrivalled accessibility technology for anyone requiring assistance when travelling. Transreport will also continually refine the technology that goes into the Passenger Assistance app to enhance the passenger experience of its users.”
