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South African startup GoMetro gets £9M for its fleet management optimization software
TechCrunch
·
1y ago
Medial
South African tech company GoMetro has raised £9 million ($11.4 million) in a Series A funding round led by Zenobē Energy. GoMetro specializes in logistics optimization software and operates a fleet electrification platform. The funding will be used to enhance services offered to Zenobē Energy's customer base and to expand operations to the UK, Europe, South Africa, the US, Latin America, and Australia. GoMetro aims to integrate over 2,000 electric vehicles and 50,000 diesel vehicles onto its platform within the next year.
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Uber leads $100M investment in African mobility fintech Moove as valuation hits $750M
TechCrunch
·
1y ago
Medial
African mobility fintech company Moove has raised $100 million in a funding round led by Uber, the ride-hailing giant's first investment in an African startup. Moove offers vehicle financing to drivers working for ride-hailing and delivery apps. The funding will be used to expand Moove's revenue-based vehicle financing platform to 16 markets by 2025. The company plans to focus on expanding its fleet of electric vehicles and sustainable mobility solutions. Moove currently operates in Nigeria, South Africa, Ghana, the UK, India, and the UAE.
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VCs double down on fintech Coast, which aims to be the Brex for 'real-world' industries VCs double down on fintech Coast, the 'Brex for real-world industries'
TechCrunch
·
1y ago
Medial
Coast, a fintech startup focused on expense management for businesses with fleet operations, has raised $25 million in equity funding and $67 million in debt financing. The company offers an expense management software and a commercial charge card designed for fleet operators in industries such as trucking, plumbing, and delivery services. Coast's platform provides detailed visibility into employees' spending, integrates with fleet management software, and offers real-time data on vehicle status and location. The funding will be used to expand Coast's capabilities and financial product offerings to fleet operators.
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Hohm Energy to scale adoption of rooftop solar across South Africa, backed by $8M seed | TechCrunch
TechCrunch
·
1y ago
Medial
South African clean tech startup Hohm Energy has raised $8 million in seed funding to expand its platform connecting homeowners and businesses with solar installers, suppliers, and financing options. The company's software and marketplace model streamlines the design, scheduling, and procurement process for solar installation while improving accessibility for buyers. Hohm Energy plans to use the funding to deepen its presence in South Africa, enhance its technology, and train local solar installers. The startup aims to provide sustainable and affordable solar energy solutions to homes and businesses in the country as it faces an energy crisis.
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BOX ID Raises €3.5M in Funding
Finsmes
·
1y ago
Medial
German logistics software provider, BOX ID, has raised €3.5 million in funding in a round led by KPN Ventures. Other participants include High-Tech Gründerfonds, Bayern Kapital, Wille Finance, and business angels Dr. Georg Hofer, Ulrich Müller-Menrad, and Relayr Co-Founder Jackson Bond. BOX ID plans to use the funds to further develop its SaaS-platform, a cloud service for industrial logistics that enables tracking, automation, and optimization of material flows within single sites and supply chains. The software manages fleet assets equipped with Auto-ID and/or IoT objects, offering scalable solutions for supply chain management in various industries.
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South Africa's Infra Impact to strike fifth bet as another PE fund set to exit
VCCircle
·
1y ago
Medial
South African private equity firm, Infra Impact Investment Managers, is expected to make its fifth investment from its debut fund. The firm is close to acquiring a waste management services provider in South Africa, using funds from its $115 million fund. Infra Impact focuses on mid-market infrastructure businesses and has been actively investing in various sectors since its inception. This latest investment represents another successful exit for the firm.
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African PE Temo Capital to acquire metal auto parts maker
VCCircle
·
10m ago
Medial
African private equity firm, Temo Capital, will acquire a South African stainless steel accessories maker. The PE firm, known for its healthcare focus, will use its investment vehicle, Growth Capital Partners II, for the acquisition.
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Well positioned for more secondary fund deals in Africa, says Sango Capital’s Okello
VCCircle
·
3m ago
Medial
Sango Capital, a South African investment firm, is focusing on more secondary fund deals in Africa, motivated by the market's demand for exit solutions, liquidity, and increased accountability. After completing its second secondaries fund transaction, the firm is well-positioned to capitalize on these opportunities. CEO and co-founder Richard Okello highlighted this strategic direction, which aligns with their management of a diverse fund portfolio, aiming to address specific African market needs effectively.
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Exclusive: Cleantech Startup Kazam To Raise $5 Mn From Vertex Ventures, Others
Inc42
·
11m ago
Medial
Electric mobility startup Kazam has raised an undisclosed amount of funding in its latest round. The funding was led by Avaana Climate Fund, with participation from Avaana Capital and Chakra India Growth Fund. Kazam offers hardware and software solutions for electric mobility, including charging infrastructure and fleet management. This comes after the startup raised $3.6 million in funding in May 2021, also led by Avaana Climate Fund.
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Admaius Capital in PE dealmaking spree with control transaction in South Africa
VCCircle
·
1y ago
Medial
Pan-African private equity firm, Admaius Capital Partners, has made another deal in the region, acquiring a majority stake in a South African company. This marks the seventh investment for the firm from its first fund and the fourth deal in just over a month. With offices in Rwanda, Nairobi, Johannesburg, Tunis, and London, Admaius Capital is actively expanding its portfolio in the African market.
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AMD takes aim at Nvidia's AI hardware dominance with Brium acquisition | TechCrunch
TechCrunch
·
1m ago
Medial
AMD has announced its acquisition of AI software optimization startup Brium, aiming to challenge Nvidia's dominance in AI hardware. Brium specializes in adapting AI software to function across various hardware systems, potentially enabling AMD to overcome current challenges where AI software is primarily tuned for Nvidia's chips. This acquisition, AMD's fourth strategic move in two years, aligns with its ambition to foster an open AI software ecosystem and enhance hardware flexibility for developers.
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