AURA, a South African startup that is in the business of security and safety, has closed a funding round of ZAR 6 Mn (USD 415 K) led by HAVAÍC; the same SA-based investment and advisory firm that led a previous ZAR 6 Mn equity round in the growing ‘SafeTech’ business back in 2018.
AURA solves the problem that existing security services face by only providing location-specific solutions, especially as people are exposed to crime irrespective of location.
With its technology-driven control room and smartphone GPS enabled solutions, AURA provides clients with access to the nearest available responder through their nationwide network of 250 private security companies.
AURA has built a supply line of over 1,600 armed response vehicles, which gives it claim to the largest number of private armed respondents in South Africa, all while providing clients such as UBER, FirstRand, Outsurance and Momentum access to their on-demand security fleet.
“Having invested in AURA in 2018 and being integrally involved in the business as non-executive board members, AURA’s progress and growth is impressive,” says a representative of HAVAÍC.
“AURA has secured numerous large clients and on its current trajectory, is expected to break-even before YE’19. However, further growth is expected to accelerate rapidly as it launches its offering into Africa.”
The cloud-based platform on which AURA is built allows for the collection, aggregation, and analysis of significant data as well as the ability to seamlessly scale into new markets.
AURA’s unique access to data and ability to predict and actively manage crime prevention, as well as its scalable technology platform, makes it an attractive local investment with international potential, thus fitting squarely into HAVAÍC’s investment thesis.
AURA’s CEO, Warren Myers states, “We are very pleased with our relationship with HAVAÍC as over and above the value they have added on the board, their experience in raising capital has helped ensure AURA’s continued success locally and given us the springboard needed to launch our market first platform in the rest of Africa.”
The funding will be used to further cement AURA’s position as a leading on-demand technology-driven security platform in South Africa, and to facilitate its growth in the rest of Africa.