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GoMetro, a South African logistics startup led by businessman Justin Coetzee, has raised $1 million in a seed extension round led by institutional investors to expand its operations as a mobility management platform.
The $1-million investment will be critical to GoMetro’s strategic expansion plans as it focuses on accelerating growth, strengthening its commercial team, and rapidly expanding into the South African, UK and American markets.
GoMetro was founded in 2012 by Coetzee as South Africa’s first real-time public transportation information system. The mobility management platform enables public transportation and logistics operators to increase operational efficiency, future-proof their services and tighten their competitiveness.
The seed extension round was led by Kalon Venture Partners, a multi-stage investment fund focused on Consumer, Enterprise, Fintech, Frontier and Healthcare. Hlayisani Capital, Tritech Global, 4Decades Capital and E Squared Investments also participated in the round.
“By using our mobility management platform and digitizing their entire fleet, operators can save up to 30 percent in operating costs by increasing overall vehicle utilization, controlling excess mileage, and managing back-office costs,” Coetzee said.
Clive Butkow, CEO of Kalon Venture Partners, said its investment in GoMetro was motivated by the exceptional GoMetro team, as well as the innovative digitization of transport operations to better manage mobility.
“The GoMetro fleet complements logistics providers’ existing telematics investment by providing accurate route planning and on-time alerts while saving them money in back-office costs and contract performance,” he said.
