HAVAÍC, a leading venture capital firm based in Cape Town, has announced a significant R12 million follow-on investment in Right Now Response (RNR), a pioneering breakdown management platform. This investment marks a strong vote of confidence in RNR’s mission to revolutionize fleet management across Southern Africa, following a fruitful initial investment of R9.2 million last year.
RNR, a South African-born enterprise, has been at the forefront of providing comprehensive breakdown support to truck fleet managers and Original Equipment Manufacturers (OEMs). Its innovative app and web portal ensure 24/7 breakdown visibility for clients, featuring live location tracking to expedite roadside assistance through its extensive network of vetted mechanics and repair centers.
For more information on RNR and its services, visit Right Now Response.
The recent injection of funds by HAVAÍC, contributing R10 million of the total round, will empower RNR to further enhance its tech platform and expand its footprint across Southern Africa. This follows a period of remarkable growth for RNR, with revenue surging by 86% and a similar increase in the volume of monthly breakdowns handled through its platform. The expansion of its supplier and mechanic network into Zimbabwe, Zambia, and Botswana underscores RNR’s commitment to addressing the pressing needs of the transport and logistics sector in the region.
Kiara Suttner-Tromp, Investment Principal at HAVAÍC, praised the RNR team’s deep industry knowledge and the platform’s potential to capitalize on the growing demand for its services. “Their hands-on expertise and impressive network mean RNR is well-positioned to take advantage of the escalating demand for their technology in Southern Africa’s significant transport and logistics market. We are excited to deepen our relationship with RNR and support their remarkable growth trajectory,” said Suttner-Tromp.
Wayne Witherspoon, CEO and co-founder of RNR, expressed gratitude for HAVAÍC’s strategic and operational support, which has been instrumental in the company’s success. “HAVAÍC have been extremely supportive strategically while at the same time leaving us to do what we do best. They bring a fresh perspective and ask probing questions that open up new possibilities. We look forward to continue working closely with Kiara and the team as we take on our next growth chapter,” Witherspoon commented.
This latest investment aligns with HAVAÍC’s track record of nurturing high-potential tech startups and follows its recent engagements with Sportable and RapidDeploy. With a portfolio now encompassing 20 innovative companies serving 20 million customers across 182 countries, HAVAÍC remains a pivotal player in the global tech ecosystem. The firm’s African Innovation Fund 3, launched in 2023 with a capital commitment of US$50 million, underscores its ongoing dedication to fostering technological innovation and entrepreneurship in Africa.
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