# Spare Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spare-labs

- Industry: Software
- Headquarters: Vancouver, Canada
- Website: www.sparelabs.com
- Total disclosed funding: $45M
- Latest round: Series B (Sep 11, 2024)
- Investors on record: 8

## About

Based in Vancouver, British Columbia Canada, and founded in 2015 by co-founders Kristoffer Hansen (CEO), Josh Andrews, and Alexey Indeev, Spare Labs Inc. operates as a provider of transportation solutions, offering ADA paratransit and microtransit services to public and private transit agencies globally. In September 2024, Spare Labs Inc. raised CAD 42 million in series B funding led by returning investor Inovia Capital, with participation from other returning investors Kensington Capital Partners and Nicola Wealth Management.

The company provides a wide range of transit technology solutions, such as Spare Launch, Spare Realize, Spare Analyze, Spare Engage, Spare Rider, Spare Driver, and Spare Open Fleets. These products support various transit needs, including microtransit, paratransit, safe rides, transit planning, and non-emergency medical transportation (NEMT). Additionally, the firm also provides services such as operational analytics, real-time data access, and customizable mobility solutions.

The company plans to use the September 2024 funding to expand its global reach, improve riders' service quality, and expedite the development of its AI-driven platform.

## Funding rounds

- Series B, Sep 11, 2024, $31M — Inovia Capital, Nicola Wealth Management, Kensington Capital Partners
- Series A, Nov 30, 2021, $14M — Inovia Capital, Ridge Ventures, TransLink Capital, Nicola Wealth Management, Japan Airlines, McNamara Family Investments, Kensington Capital Partners, Link VC

## Investors

- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Series A, Series B
- Ridge Ventures (https://capitalatlas.ai/funds/ridge-ventures) — Series A
- TransLink Capital (https://capitalatlas.ai/funds/translink-capital) — Series A
- Nicola Wealth Management (https://capitalatlas.ai/funds/nicola-wealth-management) — Series A, Series B
- Japan Airlines — Series A
- McNamara Family Investments (https://capitalatlas.ai/funds/mcnamara-family-investments) — Series A
- Kensington Capital Partners — Series A, Series B
- Link VC — Series A