Cape Town-based venture capital firm HAVAÍC has spearheaded a R12 million (approximately $632,768) follow-on investment round in Right Now Response (RNR), cementing its commitment to the South African startup’s innovative approach to truck fleet breakdown support.
RNR, founded by South African-born duo Wayne and Michelle Witherspoon, has emerged as a key player in the transportation and logistics sector by offering on-demand breakdown assistance through its extensive network of vetted mechanics and repair centers. The company’s app and web platform provide truck fleet managers and original equipment manufacturers with real-time visibility into breakdowns, facilitating swift resolutions and minimizing downtime.
Having initially invested R9.2 million (circa $485,236) as inaugural institutional investor in Right Now Response (RNR) in February of the previous year, HAVAÍC has now contributed an additional R10 million (approximately $527,369) to bolster the startup’s growth trajectory. This strategic move underscores HAVAÍC’s confidence in RNR’s potential to address the evolving needs of the region’s transport industry.
In the past 12 months alone, RNR has demonstrated remarkable progress, with an 86% increase in revenue and an 87% surge in the volume of breakdowns managed via its platform. Furthermore, the startup has expanded its network of service providers into neighboring countries such as Zimbabwe, Zambia, and Botswana, signaling its ambition to scale its operations across Southern Africa.
As a key member of RNR’s board, HAVAÍC plays a pivotal role in guiding the company’s strategic, commercial, and financial decisions. Kiara Suttner-Tromp, investment principal at HAVAÍC, expressed enthusiasm about deepening their partnership with RNR, citing the startup’s industry expertise and market potential as compelling factors.
“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 Suttner-Tromp.
In response, Wayne Witherspoon, CEO and co-founder of RNR, lauded HAVAÍC’s support and strategic insights, emphasizing the collaborative nature of their partnership.
“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 Witherspoon.
With this latest injection of capital, RNR aims to expand its team and further enhance its technological infrastructure, solidifying its position as a frontrunner in the digitalization of Africa’s transport sector.
The investment represents not only a financial commitment but also a vote of confidence in RNR’s vision to revolutionize breakdown support services, driving efficiency and reliability in the region’s vital transportation networks. As RNR continues to innovate and expand its footprint, all eyes are on the company as it paves the way for a more resilient and connected transport ecosystem in Southern Africa.