Tech

Nigerian tech start-up, Stears, closes $3.3 million seed

Published

2 years ago

October 13, 2022

Nigerian tech start-up, Stears, which is a data and insights company has closed a seed round of $3.3 million.

The company announced the raise on Tuesday in a seed round backed by Serena Williams‘ investment company, Serena Ventures.

Stears revealed that other funding contributors were MaC Venture Capital, Melo 7 Tech Partners, Omidyar Group’s Luminate Fund, Cascador, and Hoaq Club.

Stears CEO, Preston Ideh, said: “We know global professionals need our data and insight because banks, research firms, development organizations, and investors are already using our early products. Our customers tell us we are building a ‘systemically important’ company to address Africa’s data problem.”

“Globally, information providers like Bloomberg and Thomson Reuters have built data powerhouses, which act as information gateways to Western markets. We are executing an African version of this model, focused on the often missing, outdated, or poorly digitized African datasets needed by operators, finance and policy professionals, researchers, and even regulators,” he added.

Michael Famoroti, Bode Ogunlana, Abdul Abdulrahim, and Preston Ideh founded Stears in 2017 to solve Nigeria’s lack of information and data-driven insights.

The company also plans to use the funding to hire data scientists, data analysts, and sector analysts.

Related Topics:Featured Stears Tech start up

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Tech

South Africa’s GoMetro bags UK Freight Innovation Fund grant for maritime transport

Published

16 hours ago

October 17, 2024

Isaac Dachen

The South Africa’s fleet management firm, GoMetro, has been selected for a $191,000 grant from the UK Freight Innovation Fund to accelerate its plans of introducing electric maritime transportation.

The startup which was founded by Justin Coetzee in 2014, is a B2B SaaS fleet management company that is provides an OEM-agnostic electrification management platform for bus and truck operators, thereby leading to decarbonisation.

Late last year, GoMetro had $11.5 million Series A funding round to help it further develop its platform in its key markets, and with the new grant, is looking to a new course in maritime transportation.

“The grant will be used to finance a six-month trial with leading UK logistics companies Maritime Transport and Welch’s Transport to implement GoMetro’s EV-FIT solution for electric vehicle (EV) fleet transformation and the GoMetro Bridge fleet management software platform,” said Coetzee in a statement.

“The grant is an amazing validation for GoMetro in the UK freight market, and implementing our solution with major logistics players is an incredible opportunity to show how our software platform can help fleet owners achieve better results,” Coetzee added.

He further stated that with its trial partners, GoMetro will be collecting and analysing fleet movement data for a chosen UK depot, from which they will identify critical vehicle and infrastructure specification needs.

Tech

Kenya’s auto-tech startup BuuPass expands system to new operators

Published

4 days ago

October 14, 2024

Isaac Dachen

Kenyan auto-tech startup, BuuPass, has announced the expansion of its Bus Management System (BMS) to new operators in a bid to further enhance transparency and operational efficiency for bus companies in the country.

Founded in 2016 by the duo of Sonia Kabra and Wyclife Omondi, BuuPass has grown from a B2B2C mobility marketplace to become a leader in digital ticketing and transportation management solutions that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

“What we are witnessing is nothing short of a digital renaissance in bus operations. Our Bus Management Service isn’t just a tool—it’s the future of this industry,” said Kabra, who doubles as the CEO of the company.

“So far, BuuPass has sold over 16 million travel tickets and generated over US$100 million in total value of goods sold, while it has also taken part in the Google for Startups Accelerator Africa and been backed by the Google for Startups Black Founders Fund. It also acquired counterpart QuickPass earlier this year.

“The BuuPass BMS is designed to address the most pressing challenges faced by bus operators. At its core, the system enhances transparency and control by providing real-time visibility into all aspects of operations, from ticket sales to route performance.

“Among the newly enrolled operators are Abuya, Abandu, Shoreline, and Bin Ibrahim, serving crucial routes such as Nairobi-Garissa, Nairobi-Moyale, Nairobi-Busia, Mombasa-Busia, and Mombasa-Kitui.

“To ensure smooth integration, BuuPass provides these operators with scanning devices, computers, and digital printers, along with comprehensive training for their staff on system usage,” she said.