Land Digital raises £705,000 to expand tolling and parking software
Northstar Ventures supplied £500,000 of the round through its £16m Venture Sunderland Fund.
Land Digital Sunderland transport technology company Land Digital says it has raised £705,000 to expand its software for barrier-free tolling and parking.
Northstar Ventures’ Venture Sunderland Fund contributed £500,000. Creative England invested £180,000 and business angels supplied a further £25,000.
Northstar’s £500,000 investment accounts for just over 70 per cent of the round. Northstar describes the Venture Sunderland Fund as a £16m fund for high-growth companies based in or moving to Sunderland.
Land Digital says it will use the funding to develop its platform and grow its team, although the announcement does not say how many jobs it expects to create.
The company builds software that uses automatic number plate recognition, data processing and artificial intelligence to run systems without physical barriers.
Land Digital says it has a five-year operational partnership with Tyne Tunnel 2 Ltd, operator of the Tyne Tunnels, and manages parking operations at London Southend Airport.
Land Digital founder and managing director Jon Leighton said: “Operators don’t want more technology – they want less friction, for both customers and back offices.”
Northstar Ventures investment manager Naomi Allen Seales said Land Digital had “demonstrated the ability to win and deliver contracts across both tolling and airport environments”.
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