The successful conclusion of a GBP9 million (US $11.5 million) Series A fundraising round has enabled South African fleet management startup GoMetro to digitize heavy duty commercial transport operations and expand its platform in strategic markets.
GoMetro is a B2B SaaS fleet management firm founded in 2014 by Justin Coetzee. It offers bus and truck operators the best-in-class, OEM-agnostic electrification management platform, leading the decarbonization of a sector that is notoriously difficult to decarbonize.
By giving mobility apps the building blocks, they need to create quickly, the solution enhances the operations of hundreds of fleets worldwide.
After raising US $1 million in a seed extension deal in May 2022, GoMetro has now raised GBP9 million (US $11.5 million) in a Series A led by new investor Zenobđ, with FutureGrowth Asset Managers playing a major role. Existing investors 4 Decades Capital, Hlayisani Capital, Tritech Global, Kalon Venture Partners, ESquared Ventures, and Greg Fury participated in the Series A round.
GoMetro’s goal to digitize heavy-duty commercial transport operations and forward the development of its cutting-edge fleet management platform in its primary markets of the UK, EU, USA, and South Africa will be accelerated by the infusion of funding.
“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.
A cloud-based technology called GoMetro’s Bridge controls the data streams needed for buses and trucks to be successfully electrified. By leveraging their own telemetry data to provide an assessment of the fit to predicted EV adoption scenarios for a fleet owner, users of GoMetro Bridge can access a wide range of telematics-driven services specifically designed to facilitate their transition to all-electric fleets.
With the help of this money, GoMetro hopes to improve its software platform and give fleet managers even more powerful tools for overseeing and maximizing the performance of all-electric vehicles. This entails increasing the range of devices that GoMetro Bridge can support in addition to improving current capabilities and adding new ones that correspond with the changing demands of the sector.
“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.”
