Tech

SA fleet management startup GoMetro raises $11.5 million Series A round

South African fleet management startup GoMetro has announced the successful completion of a GBP9 million (US$11.5 million) Series A funding round to help it digitise heavy duty commercial transport operations and further develop its platform in its key markets.

Founded in 2014 by Justin Coetzee, GoMetro is a B2B SaaS fleet management company that is providing a best-in-class, OEM-agnostic electrification management platform for bus and truck operators – leading decarbonisation in a hard-to-decarbonise sector.

The solution improves the operations of hundreds of fleets around the world by providing the building blocks for the rapid development of mobility applications.

GoMetro, which raised a US$1 million seed extension round back in May 2022, has now secured a GBP9 million (US$11.5 million) Series A led by new investor Zenobē, with significant participation by FutureGrowth Asset Managers. Following-on in the Series A round were existing investors 4 Decades Capital, Hlayisani Capital, Tritech Global, Kalon Venture Partners, ESquared Ventures and Greg Fury.

The infusion of capital will serve as a catalyst for GoMetro’s mission to digitise heavy duty commercial transport operations and further develop its state-of-the-art fleet management platform in its key markets of the United Kingdom, EU, USA and South Africa.

“Embracing data-driven decision-making systems that empower operators to better manage fleet utilisation, optimise resources, reduce risk and enhance customer satisfaction can be a real competitive edge that catapults transport companies beyond the reach of their competitors,” Coetzee said.

GoMetro’s Bridge is a cloud-based platform that manages the data streams required for successful electrification of buses and trucks. With GoMetro Bridge, users gain access to a wide range of telematics-driven features specifically designed to support their transition to all-electric fleets – using their own telematics data to provide an assessment of the fit to expected EV adoption scenarios for a fleet owner.

GoMetro aims to use this funding to strengthen its software platform to provide fleet operators with even more robust tools for managing and optimising all-electric fleets. This includes refining existing features and introducing new functionalities that align with the evolving needs of the industry, as well as expanding the number of devices supported on GoMetro Bridge.

“This Series A funding is a pivotal moment for GoMetro, and we are thrilled to have Zenobē and FutureGrowth as our lead investors in our round,” said Coetzee. “Getting the chance to apply our technology to the biggest single electric bus fleet in the United Kingdom will accelerate our research and development into supporting EV buses and trucks on GoMetro Bridge. Data-driven fleet management and telematics is entering a new golden age with EV adoption – and there is a massive opportunity in this key watershed moment in an industry transition.”

 In addition to using the Series A funding to help it solidify its operations in the UK, EU and South Africa, GoMetro is further focussed on expansion to the US, Latin America and Australia in the next 12 months. This includes establishing partnerships and collaborations with businesses, governments, and organisations committed to sustainable transportation solutions. As governments worldwide intensify their focus on reducing carbon emissions, the collaborative efforts between GoMetro and Zenobē aim to tackle the challenges of decarbonising road transport.