Nadya Eka Lestari
TechInAfrica — SA-based security and safety startup, AURA has closed a funding round of ZAR6 Mn (roughly $415 K) led by HAVAÍC, the same SA-based investment and advisory firm that led a previous ZAR6 Mn equity round for ‘SafeTech’ business in 2018.
Addressing AURA works by only providing location-specific solutions, especially as people are exposed to crime irrespective of location.
The startup provides clients with access to the nearest available responder through their nationwide network of 250 private security companies with its technology-driven control room and smartphone GPS enabled solutions.
Claiming as the largest number of private armed respondents in South Africa, AURA has built a supply line of over 1,600 armed response vehicles. This while providing clients such as UBER, FirstRand, Outsurance, and Momentum access to their on-demand security armada.
A representative of HAVAÍC said, “Having invested in AURA in 2018 and being integrally involved in the business as non-executive board members, AURA’s progress and growth is impressive.”
“AURA has secured numerous large clients and on its current trajectory, is expected to break-even before YE’19. However, further growth is expected to accelerate rapidly as it launches its offering into Africa.”
The company’s cloud-based platform is built to allow for the collection, aggregation, analysis of significant data, and also the ability to seamlessly scale into new markets.
With AURA’s unique access to data and the ability to predict and actively manage crime prevention, as well as its scalable technology platform, it becomes an attractive local investment with international potential which fits HAVAÍC’s investment thesis.
Warren Myers, AURA’s CEO said, “We are very pleased with our relationship with HAVAÍC as over and above the value, they have added on the board, their experience in raising capital has helped ensure AURA’s continued success locally and given us the springboard needed to launch our market first platform in the rest of Africa.”
Furthermore, the funding will be used to strengthen AURA’s position as a leading on-demand technology-driven security platform in South Africa and to facilitate its growth in other countries in Africa.
Source: weetracker.com
