The heir to industrial conglomerate JCB has spearheaded a £5m investment into mobility startup Zeti.
Jo Bamford’s HYCAP Group, an energy transition investor, will add Zeti to its portfolio of infrastructure companies, which includes Wrightbus, Ryze and Hygen.
Founded in 2020, Zeti has created a digital platform for fleet operators to track finances, lenders to invest in transport fleets, along with other management tools.
The London-based startup says it has over 4,500 vehicles on its digital platform.
“If it can be measured, Zeti can show it in real-time. Its platform has applications well beyond mobility and brings the energy transition space into sharper focus,” said Scott Lanphere, HYCAP’s chief investment officer.
Dan Saunders, founder and CEO of Zeti, said the investment from HYCAP will “further enhance our ability to offer flexible financing options to accelerate the adoption of clean transport solutions on a larger scale.”
Zeti is targeting its software at firms looking to manage investments into net zero and ultra-low emission transport operators.
“Fleet operators who previously have said that switching to net zero was too expensive can now earn instant revenues to help subsidise the switch while dramatically reducing their carbon footprint and fuel costs,” said Bamford, chairman and founding partner of HYCAP Group.
Bamford’s father, Anthony Bamford, is the chairman of construction giant JCB and was a Conservative peer until April 2024.
In 2021 Jo Bamford launched a £1bn investment fund to finance green hydrogen projects.
Zeti’s £5m Series A funding follows a previous investment from sustainability investors Powerhouse and Toyota Ventures.