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South African telematics company Ctrack has raised $23.4 million in equity funding, marking a significant milestone in its growth journey and strengthening its plans for global expansion. The funding round was backed by Sanari Capitaland 27four Investment Managers, with Sanari contributing $14.4 million through its 3S Growth Fund and 27four investing $9 million.
The capital injection will enable Ctrack to accelerate its expansion across Africa, the United Kingdom, Europe, and Australia, while continuing to innovate within the telematics and fleet management industry.
With a legacy spanning over 40 years, Ctrack has built a solid reputation for transforming real-time data from devices, GPS systems, and sensors into actionable insights. Its technology empowers industries such as logistics, construction, government, and insurance to improve operational efficiency, safety, and productivity.
According to Hein Jordt, CEO of Ctrack, the investment demonstrates strong confidence in the company’s vision and market leadership. “This funding underscores Sanari Capital and 27four’s belief in our growth strategy and our mission to deliver smarter, predictive tools for businesses worldwide,” Jordt said. He emphasized that both investors align with Ctrack’s long-term commitment to innovation and data-driven transformation.
Sanari Capital noted that Ctrack’s proven success and resilience in Africa’s challenging operating environments make it well-positioned for global scalability. Ofentse Pelle, a Partner at Sanari Capital, highlighted that Africa’s complex conditions—ranging from infrastructure challenges to cross-border logistics—have shaped Ctrack’s robust, adaptable telematics solutions that are now thriving in diverse international markets.
The investment also follows Ctrack’s acquisition of Inseego’s global telematics business in 2023, a move that consolidated its international operations under one unified structure. This strategic acquisition was supported by Convergence Partners, which initially invested in Ctrack in 2021 by acquiring its Africa and Middle East operations from Inseego. Convergence Partners affirmed that the new funding reflects continued confidence in Ctrack’s potential to lead globally in fleet intelligence and telematics innovation.
Since its 2021 transformation, Ctrack has strengthened its footprint in fleet management, leveraging data analytics to offer seamless, intelligent mobility solutions. The new investment will fuel further product development, technology integration, and customer expansion efforts across key regions.
In summary, Ctrack’s $23.4 million equity funding represents a strong vote of confidence from investors in its growth trajectory and technological capabilities. With backing from Sanari Capital and 27four Investment Managers, the South African firm is poised to advance its global presence and continue helping businesses operate smarter, safer, and more efficiently through cutting-edge telematics innovation.
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