South African transport tech startup GoMetro has raised funding from Tritech Media, the media technology investment firm controlled by the Kirsh family, in return for a 20 per cent stake in the smart mobility company.
Launched in 2012 to map and report on public transport in South African cities, GoMetro last raised funding in 2014 from 4Decades Capital and AngelHub Ventures, and has since rolled out a number of new products.
The startup’s proprietary Flexible Mobility Platform simplifies transport operations on public and semi-public transport services within a specific geographic footprint. GoMetro has forged strong working relationships with city governments across South Africa to modernise and digitise public transport networks and bring minibus taxis into the formal transport market.
The company is now working with PRASA on the national rail network, as well as with several bus companies in South Africa to launch mobile ticketing and passenger information services for each service.
Tritech Media’s investment in GoMetro will see William Kirsh join the startup’s board.
“This is such a great strategic acquisition for our group. Our aim is to cover where the consumers are in their daily life, and then to position precise and relevant brand advertising and communications based on their location,” Kirsh said.
“Through our recent acquisitions of Ionizr, ProximityID and Geospatial Data Solutions, incorporating satellite enabled Spatialedge, we have built an extremely strong presence in and around shopping centres. GoMetro now gives us the opportunity to cover the vast majority of consumers across South Africa through their commuting experience.”
Kirsh said GoMetro’s technology was truly world-class, and said the objective is to expand into other emerging markets, with Nairobi currently being mapped.
Justin Coetzee, chief executive officer (CEO) of GoMetro, said it is getting harder and harder to move around growing cities, an issue GoMetro is attempting to tackle.
“GoMetro is making moving around easier for every person travelling to work or school with our merger of traffic and public transport data through our proprietary algorithms and mapping solutions for the two million unique browsers on GoMetro,” he said.
“Making paying for transport easy and seamless on your phone is the next part of our journey. Being part of Tritech Media gives us access to leading proprietary technology and market-share to deliver transport transaction solutions with corporate precise communications to a growing market.”
