Supporting growth and regional links, the travel and transport sector is an important part of the UK’s economic framework. In 2023, the North East saw several companies securing notable investments to drive innovation and development in this space.
This article highlights the top 10 travel and transport companies in the North East based on the highest amount of fundraising and evaluates how the region compares to others in the UK, using key fundraising benchmarks.
Top Travel and Transport Companies in the North East
This data reflects fundraising raised in 2023 by UK companies officially registered and active on Companies House within the travel and transport industry.
- RGI Marine
Total amount raised: £32,000
Location: North East
RGI Marine focuses on the design and production of marine transport systems. Their 2023 fundraising will be used to further develop new solutions for more sustainable water transportation. - Last Mile Logistic Solutions
Total amount raised: £75,670
Location: North East
Last Mile Logistic Solutions specialises in last-mile delivery and urban logistics. Their recent fundraising supports expanding their technology and infrastructure to meet the growing demand for efficient and sustainable last-mile delivery. - Car Credible
Total amount raised: £159,885
Location: North East
Car Credible offers a vehicle history check platform that ensures transparency for used car buyers. Their 2023 fundraising aims to expand their platform and reach more consumers across the UK. - Total Resources
Total amount raised: £184,000
Location: North East
Total Resources provides traffic management services, supporting large-scale road infrastructure projects. Their fundraising will be used to enhance their service offering and invest in advanced traffic control technologies. - whocanfixmycar.com
Total amount raised: £1,137,092
Location: North East
whocanfixmycar.com is an online platform that connects vehicle owners with local garages. Their fundraising in 2023 will help expand their network and offer more comprehensive car repair services across the UK. - CetoAI
Total amount raised: £1,500,000
Location: North East
CetoAI specialises in AI-driven predictive analytics for transportation logistics. The company’s 2023 fundraising supports the development of its AI platform, which helps businesses optimize supply chains and transport networks. - Advanced Electric Machines
Total amount raised: £23,000,000
Location: North East
Advanced Electric Machines focuses on the development of sustainable electric motor technologies. Their recent fundraising will help them scale their manufacturing operations and support the transition to electric transport solutions across various industries. - GeoPura
Total amount raised: £56,000,000
Location: North East
GeoPura leads the way in clean hydrogen power systems, providing zero-emission energy solutions for vehicles and transportation infrastructure. Their massive fundraising in 2023 will support the expansion of their hydrogen energy services and further the development of sustainable transport infrastructure in the UK.
How is the North East Performing?
Using regional fundraising benchmarks from 2023, we can critically evaluate how well the North East is performing in the travel and transport sector compared to other regions in the UK.
Total Fundraising Amount
In 2023, the North East raised £25.7 million across its top companies. While this amount is modest compared to London’s staggering £1.07 billion, it is a significant step forward for a region with a smaller travel and transport sector.
Average Fundraising per Company
The North East’s average fundraising per company is £5.1 million, a notable figure considering the relatively small number of companies in the region. This demonstrates the region’s ability to attract substantial investments for innovative projects, particularly in sustainable transport technologies.
Top Fundraising Company
GeoPura raised £56 million in 2023, making it the top performer in the North East. GeoPura’s investment in clean hydrogen power systems sets it apart as a key player in the UK’s drive towards sustainable energy solutions for transportation.
How does the North East compare to other regions in the UK?
The North East is making strides in innovative areas like clean energy and electric motor technologies, but it remains a smaller player compared to regions like London and the East of England. The region’s focus on sustainability and energy-efficient transport technologies is promising, and with continued investment, the North East could position itself as a leader in green transport solutions.
The Future of Travel and Transport Companies in the UK
The North East is poised for growth in the travel and transport sector, particularly in the areas of clean energy and electric vehicle technologies. Companies like GeoPura and Advanced Electric Machines are driving innovation and helping the region contribute to the UK’s sustainability goals. As investor interest in green technology continues to rise, the North East is well-positioned to make a lasting impact on the future of transport in the UK.