South African telematics innovator Ctrack Holdings has secured $23.4 million in equity funding to propel its global growth strategy. The investment was led by Sanari Capital, contributing $14.4 million through its 3S Growth Fund, and 27four Investment Managers, which invested $9 million. The transaction was facilitated by Verdant IMAP, which acted as the sole financial advisor and intermediary.
Ctrack, established over four decades ago, specializes in transforming data from devices, sensors, and GPS into actionable intelligence that enhances efficiency, safety, and growth across various sectors, including logistics, construction, government, and insurance. The company operates in Africa, the UK, Europe, and Australia, offering its Crystal platform to deliver predictive insights to its clients.
The recent funding will support Ctrack’s strategic initiatives, including the integration of its global operations following the acquisition of Inseego’s international telematics business in 2024. This move aims to reunify Ctrack’s global business, consolidating its platform, technology, and customer base under a single structure.
Hein Jordt, CEO of Ctrack, expressed enthusiasm about the investment, stating that it represents a significant milestone in the company’s growth journey. He emphasized that the backing from Sanari Capital and 27four Investment Managers strengthens Ctrack’s position to deliver innovative solutions and expand its global footprint.
The participation of Sanari Capital and 27four Investment Managers underscores investor confidence in Ctrack’s potential and highlights the role of inclusive capital in building globally competitive technology businesses.
As Ctrack continues to innovate and expand, the company remains committed to providing cutting-edge telematics solutions that drive operational efficiency and safety for its clients worldwide.
Read more on Tech Gist Africa:
Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group
Float, South African fintech startup has secured US$2.6 million in funding
