Route Monkey Secures Half-Million Pound Investment
Route Monkey has developed the system over the last six years, initially targeting commercial vehicle fleets. The system is designed to help fleet managers to identify the best vehicle for each delivery or collection, removing concerns over available vehicle range.
The investment will be used to concentrate on the electric vehicle market and to open an office in Newcastle, in addition to its base in Scotland.
Route Monkey has also formed a strategic partnership with Smith Electric Vehicles to supply the scheduling technology to the manufacturer. This global agreement will allow Route Monkey’s software to interface with Smith’s own telematics system Smith Link, providing fleet managers with the technology to make opportune additional collections and deliveries without range anxiety or concerns over vehicle performance.
Longer-term, Route Monkey is hoping to break into the North American market, while establishing a reseller network in other countries including South Africa and Ireland.
‘We came up with the concept in 2006/7 and took it to market in 2009,’ said chief executive Colin Ferguson. ‘We have been relatively successful, becoming a niche software provider. I am confident that with this support we can take Route Monkey to another level.’
‘Route Monkey will help our fleet customers maximise the range capabilities of their all-electric trucks and LCVs,’ said Smith’s senior vice-president of business development Angela Strand.
‘Fundamentally this is about electric vehicle asset management. Route Monkey helps fleets maximise the asset by using as much of the mileage as possible. The more miles the EV drives each day, the better the return on investment.’For more of the latest industry news, click here.