Toruń-based SP Tech Solutions, a Polish startup offering rail transport optimisation systems, secured a €2.7 million funding round from Vinci HiTech fund. This fresh capital will fuel further technological development, expand its features, and support international market expansion. Its rail transport optimisation system has been capturing market interest, as reflected in the company’s revenue growth of nearly 1000% in the past two years.
Tracing its roots back to the 18th century, rail transport has evolved significantly from horse-drawn coal wagons in the UK to establishing the first public railway in 1825. Fast forward nearly two centuries, rail accounts for 17% of European land transport, a figure expected to rise in alignment with the European Green Deal’s goal to drastically cut transport emissions by 90% by shifting at least 30% of freight over 300 km to rail or water transport by 2030, and 50% by 2050. SP Tech Solutions addresses these challenges by introducing the Raily suite, a comprehensive IT system for railway transportation businesses. This system enhances operational efficiency and execution for those in the railway sector by optimising transport planning, reducing operational costs, and automating processes.
“The Raily system, developed since 2019, offers savings, automation, and error reduction for rail carriers, contributing indirectly to greenhouse gas emission reductions and addressing the rail industry’s labour shortage. We comprehensively respond to the problems and challenges companies face in this sector,” commented Piotr Sikorski, CEO of SP Tech Solutions. “Our solutions are already used by companies such as PKP Cargo, Lotos Kolej, Laude Smart Intermodal, and we have also made our first implementations in the German market. The market’s demand for our solutions is evidenced in the Group’s rapid growth of over 1000% over the last two years, reaching nearly 41 million PLN in 2023.”
Founded in 2019 by Michal Pawlowski and Piotr Sikorski, SP Tech Solutions delivers a full range of services to rail transport firms. Their Raily system consists of three tools: Raily Taxi, Raily Cargo and Raily Marketplace.
“We aim to address the rail industry’s challenges with our Raily ecosystem, comprising three essential tools that can be used independently or as a part of the entire package. Raily Taxi automates the process of organising and optimising the transportation of traction teams; Raily Cargo offers integrated management of railroad resources and freight planning through business intelligence; and Raily Marketplace is a platform for searching and booking traction services, including train technical inspections and hiring train drivers trained to operate on specific routes. These tools can be used separately or as a combined package to enhance operational efficiency,” said Michal Pawlowski, co-founder of SP Tech Solutions.
The company is constantly expanding the functionality of its tools and adapting them to market and customer needs. With the recent investment from the Vinci HiTech fund, the company aims to accelerate its global outreach. The plans involve developing AI-enabled technology and growing the team by 50%, focusing on sales, marketing, and, most importantly, development.
“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. Their digital solutions 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,” added comments Piotr Wolinski, CEO of Vinci S.A., 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”
Read the orginal article: https://www.eu-startups.com/2024/03/polish-startup-sp-tech-solutions-raises-e2-7-million-to-fuel-further-development-of-rail-transport-optimisation/
