SOUTH AFRICA – South African logistics startup, GoMetro, has secured a US$1 million (ZAR16.3 million) seed extension round to accelerate its growth, bolster its commercial team and rapidly expand into the South African, UK and American markets.
The funds were received from Kalon Venture Partners, Hlayisani Capital, Tritech Global, 4Decades Capital, and E Squared Investments and would be used for key hires and investment in its innovative tech platform, product engineering and development.
GoMetro is a mobility management platform that enables public transport and logistics operators to boost operational efficiency, futureproof their services, and tighten their competitiveness.
The solution improves the operations of hundreds of fleets around the world by providing the building blocks for the rapid development of mobility applications.
“By using our mobility management platform and digitising their entire fleet, operators can save up to 30 per cent in operating costs by increasing overall vehicle utilisation, controlling excess mileage and managing back-office costs,” CEO of GoMetro, Mr Justin Coetzee said.
“We have also seen our customers increase the certainty and accuracy of their delivery windows by 50 per cent.”
On his part, Kalon Venture Partners CEO, Mr Clive Butkow said he was excited to be an investor in a business that continued to scale locally and globally.
“Kalon’s investment was motivated by the exceptional GoMetro team, as well as the innovative digitization of transport operations to better manage mobility.
“The GoMetro fleet works with logistics providers’ existing investment in telematics, provides accurate route planning and on-time alerts, and saves them money in back-office costs and contract performance,” he said.
Mobility operations may use GoMetro Fleet to adopt electric mobility transitions. Their patented Mobility Management approach assists bus and truck fleets in measuring, modeling, managing, and transitioning to zero-emission transportation which will be further facilitated by this recent funding.
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