Alchera Raises £2.7M for AI Traffic Forecasting

Cambridge startup Alchera Technologies secured £2.7 million in seed funding to expand its AI traffic forecasting software for UK roads. Maven Capital Partners led the round, contributing £2 million alongside the British Business Bank, Innovate UK, and other investors. The company aims to double its recurring customer base within 12 months while scaling into a multi-million-pound ARR business by 2030.