SWAT Mobility Secures US$7.2 Million to Fuel Expansion of AI-Powered Vehicle Routing Technology Across Asia

SINGAPORE, April 23, 2024 - SWAT Mobility, a leading provider of AI-powered vehicle routing solutions, has secured a total funding of US$7.2 million in the latest round. This investment will fuel SWAT's expansion efforts across Asia, further solidifying its position in the region's mobility sector. Additionally, the funding will be used to further invest in R&D for our logistics solutions, enhancing our capabilities in this crucial sector.

This funding round includes new investors from esteemed Japanese firms, including NEC & Translink Orchestrating Future Fund, managed by Translink Capital in the US and NEC Corporation in Japan, NX Global Innovation Fund affiliated with Tokyo-based Nippon Express, and Chubu Electric Power, a leading Japanese utility firm. Additionally, IMC Venture, the corporate venture of IMC Industrial Group and G.K. Goh Group, have joined as new investors, alongside existing investors Goldbell Investments, iGlobe Partners and UTEC. The participation of these new investors underscores the broad support for SWAT's innovative approach to transportation technology.

"This investment marks a pivotal moment for SWAT Mobility as we expand our reach and enhance our AI-powered platform. With the support of our investors, we are well-positioned to drive the future of mobility in the transportation and logistics sectors, particularly in Japan. Our goal is to offer efficient and sustainable solutions that address the evolving needs of these sectors" said Jarrold Ong, CEO & Co-Founder of SWAT Mobility.

Since entering the Japanese market in 2020, SWAT has implemented projects in over 50 regions, providing on-demand transport solutions and data analysis solutions to local government and transport operators nationwide. With the increase in demand for smart mobility services in the transportation sector and rapid adoption of delivery optimisation systems in the logistics sector, SWAT has established a growing team in Japan with roles such as engineering, sales, and service delivery. As Japan's labour regulations for truck drivers are set to become more stringent starting in April 2024, SWAT foresees a heightened need for route optimisation solutions in the sector.

SWAT Mobility's AI-powered platform revolutionises urban transportation by enabling efficient route planning and optimisation for transport and delivery services. This latest funding round will further propel the company's efforts to provide innovative and sustainable mobility solutions for cities across Asia. SWAT remains committed to expanding and deepening our presence in Asia, especially in the Southeast Asia region, where the demand for next-generation route planning and dispatch management systems is on the rise.

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