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South African startup Carscan, a leading AI and AR app active in the auto-insurance space, Augmented reality app, has raised a follow-on funding round worth ZAR20 million (USD 1.3 Mn) to help it further expand operations. The round was led by Kalon Venture Partners alongside Launch Africa Ventures and the IDF. The new round also includes the same three investors, Allan Gray, E2 Ventures, and AlphaCode.
Carscan is an augmented reality (AR) app with embedded artificial intelligence (AI) that creates an accurate, reliable, agnostic, complete, and traceable digital record of a car. The platform helps automotive ecosystems buy, sell, rent, service, insure, finance, and auction cars with great confidence by eliminating fraud, governance, and industry risks. The digital application allows anyone to assess and extract details of a car in less than a minute, expediting the insurance claim process from weeks to minutes. Carscan claims to be a global first.