Ctrack Holdings successfully raised USD 23.4 million in equity funding to support its international expansion plans following the acquisition of Inseego's telematics business.

Information on the Target

Ctrack Holdings, a provider of advanced telematics solutions, has recently concluded a successful equity raise of USD 23.4 million (approximately ZAR 406 million). This round of funding was spearheaded by prominent South African investors, Sanari Capital and 27four Investment Managers. The newly acquired capital will facilitate the company’s international expansion efforts following its acquisition of Inseego's global telematics business. Ctrack has established itself as a key player in the telematics sector, enabling businesses to optimize vehicle and asset management through innovative technology.

Industry Overview in South Africa

The telematics industry in South Africa is rapidly evolving, driven by increasing demand for innovative tracking and asset management solutions. Corporations are actively seeking ways to enhance operational efficiency, reduce costs, and improve decision-making through telematics. The market has seen significant growth due to advancements in technology that allow for real-time data collection and analysis.

As the country pushes toward greater digitization, telematics providers like Ctrack have positioned themselves favorably, tapping into various sectors including logistics, t