RNR, a breakdown management startup based in South Africa, has raised ZAR12 million (US$640,000) in funding to expand its team and expand throughout Southern Africa.
HAVAÍC, a South African venture capital firm, led the startup’s February 2023 ZAR10 million (US$555,000) funding round. This investor is now leading this funding round, which is valued at ZAR12 million (US$640,000).
The on-demand breakdown management and analytics platform RNR, which stands for “Right Now Response,” was founded in 2019 by Wayne and Michelle Witherspoon.
Through its nationwide network of certified mechanics, electricians, and service facilities, the company offers breakdown support to truck fleet managers and vehicle OEMs by leveraging technology to balance supply and demand.
In addition to significantly speeding up response times, RNR completes 70% of repairs on the roadside, saving money on costly towing and freight delays, by mobilizing its nearest subcontractor.
Clients are provided with round-the-clock breakdown visibility through the app and web portal, which includes live position tracking and tracing from acceptance to workshop and roadside repair.
“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,” said Wayne Witherspoon, CEO and co-founder at RNR.
“The seasoned team at RNR knows their industry inside out. 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 Kiara Suttner-Tromp, investment principal at HAVAÍC.
RNR has seen an increase in monthly breakdown volume handled through its platform by 87% and a growth in income of 86% during the last 12 months.
Additionally, the firm has increased the number of suppliers and mechanics in Botswana, Zambia, and Zimbabwe.
The funding will help RNR expand its workforce and further develop the IT platform both domestically and throughout Southern Africa.
Read more on Tech Gist Africa:
Planet42, a startup based in South Africa, has raised $15.8 million in funding from Standard Bank
Hohm Energy, a South African startup, has raised $8 million in a seed round
Comments 1