Polish railway tech SP Tech Solutions receives €1M

The Poland-based railway technology startup SP Tech Solutions has received around €1 million (5 million złoty) in a new financing round. SpeedUp Bridge Alfa and Pomerangels participated in the investment to improve rail transport, MamStartup writes.

• Founded in 2019 by Michał Pawłowski and Piotr Sikorski, SP Tech Solutions is the first company on the Polish market to design and implement innovative tools for the rail transport system. The company also places great emphasis on the ergonomics of its solutions, which enables rail transport to become much simpler and cheaper to implement.
• SpeedUp Bridge Alfa and Pomerangels co-led the €1 million investment. SpeedUp Bridge Alfa is a 2018 vintage early-stage venture capital fund managed by SpeedUp Venture Capital Group, and based in Poznan, Poland. Pomerangels is also a Polish fund investing across Poland alongside business angels and syndicates.

“There is a lot of space in the rail sector for processes digitization. SP Tech Technologies already generates savings for rail carriers and eliminates human error. We believe that with our support, as well as the support from business angels co-investing with us, SP Tech will become the undisputed leader in Poland and Europe,”

Grzegorz Gawlik, managing partner of Pomerangels, comments on the deal.

• The startup will use the funding for technological work and building the company’s position on the Polish railway market. In the coming months, SP Tech is also planning to close another funding round aimed at global expansion.

SpeedUp VC Group, the firm managing SpeedUp Bridge Alfa, has made three other investments in 2022 alone. AIN.Capital has recently made a ranking of 25 most active VC funds in Poland. Read more about the fund in the 16th position, here.