GoMetro scales fleet management tech after R211m funding

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 29 Nov 2023
GoMetro founder Justin Coetzee.
GoMetro founder Justin Coetzee.

GoMetro, a South African fleet management tech company, has completed a £9 million (R211 million) Series A funding round.

According to a statement, the round was led by new investor Zenobē, with participation by FutureGrowth Asset Managers, as well as existing investors 4 Decades Capital, Hlayisani Capital, Tritech Global, Kalon Venture Partners, ESquared Ventures and Greg Fury.

GoMetro says the infusion of capital will serve as a catalyst for its mission to digitise heavy-duty commercial transport operations and further develop its fleet management platform in its key markets – the UK, EU, US and SA.

The firm was founded to improve the operations of hundreds of fleets around the world by providing the data management services and real-time traffic and transport information to commuters and operators.

In the highly-competitive fleet management space, operators of busses and trucks constantly face the risk of losing market share to competitors that are rapidly adopting technology solutions. This risk can be minimised if fleet operators can position their operations for growth and stay competitive in the ever-changing market, according to GoMetro.

“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,” states GoMetro founder Justin Coetzee.

GoMetro says it aims to use this funding to strengthen its software platform to provide fleet operators with 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.

The cloud-based platform manages the data streams required for successful electrification of buses and trucks. With GoMetro Bridge, users gain access to a range of telematics-driven features specifically designed to support their transition to all-electric fleets.

The landscape of heavy goods vehicle electrification is undergoing rapid evolution, marked by the emergence of electric vehicle (EV) models in big bus and truck models, championed by original equipment manufacturers.

Zenobē Energy, an EV fleet and grid-scale battery storage company headquartered in the UK, brings experience and strategic value to this investment, according to Coetzee.

With a global footprint, Zenobē supports over 1 000 electric buses, trucks and commercial vehicles. The company is looking to support 4 000 EVs on the road by 2026.

Zenobē will leverage GoMetro to keep its customers at the forefront of fleet management data and analytics.

"GoMetro's customer- and data-driven approach to fleet management aligns seamlessly with our vision for the future of sustainable transportation," says Steven Meersman, founder and director of Zenobē.

“We are excited to support their growth into new markets, as well as to provide the capital to accelerate their product development.”