A Manchester tech start-up which captures real time data on railway infrastructure projects has been boosted by £650,000 investment.
Raildiary secured the funds from the Rail Supply Growth Fund and Angelgroups to support its expansion across the rail construction sector in both UK and overseas markets.
The investment will help Raildiary increase its workforce and accelerate its product development work, leading to the creation of ‘market-leading data collection and analysis tools for the rail construction industry.’
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Raildiary said the platforms will allow new and existing clients to gain vital information and insights on the state of their construction projects in a highly cost effective and robust manner, thereby significantly improving the management of their projects.
Raildiary’s existing Sitediary app, available on a subscription basis, already contains a range of digital project management tools allowing construction contractors to save time and money by moving away from their traditional paper shift records while being able to produce more detailed, insightful and real-time reports tailored to the rail construction sector.
Raildiary’s MD and founder William Doyle, a chartered surveyor with a decade of experience in the rail construction sector and with first hand experience of the damage caused by poor transfer of information between a construction site, the office and the client, said: “This investment is a fantastic opportunity for us to develop our business.
“The funding will support our product growth and allow us to transform the way the UK and international rail markets deliver their projects.”
The Rail Supply Growth Fund managed by Finance Birmingham and funded by central government provides flexible finance to businesses across England that are focused on capitalising on opportunities across the global railway sector.
Jack Glonek, investment director at Finance Birmingham, said: “The Rail Fund is delighted to be investing into Raildiary with its deliverable growth plans based on an exciting product development pipeline backed by a skilled and experienced management team.”
Martin Avison, founder of Angelgroups, corporate investors, added: “At Angelgroups we are always looking for a great team and in Raildiary’s case they not only had the people, but a great and scalable business.
“I’m confident that the money invested will enable them to grow the business and make the most of what is a very exciting opportunity.”
