HAVAÍC, institutional funder invest further R6m in Aura

Joburg-based startup Aura has netted a further R6-million from Cape Town based venture capital (VC) company HAVAÍC.

The investment, which was made in the last quarter of 2019, was made together with an institutional funding partner, the VC’s CEO Ian Lessem confirmed today, without revealing the name of the institutional funding partner.

Aura, which was founded by Warren Myers in 2016, has developed a cloud-based security and safety platform that is used by among others, Uber, FirstRand, Outsurance and Momentum.

The platform provides on-demand geographically variable security response from the aggregation of a substantial number of the best independent armed reaction companies in South Africa.

The follow-on investment follows an initial R6-million that the VC invested in the startup in 2018 (see this story).

Aura, founded by Warren Myers in 2016, has developed a cloud-based security and safety platform used by among others, Uber

The VC said Aura presently has a nationwide network of 250 private security companies and provides clients with access to over 1600 armed response vehicles.

The VC said Aura’s growth since it invested in the business in May 2018, has been “impressive”.

Aura has secured numerous large clients and on its current trajectory, is expected to break-even before year-end 2019, it said, adding that further growth is expected to accelerate rapidly as it launches its offering into Africa.

Said Myers in the same statement: “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.”

Read more: First Uber partnership, now Aura secures first R2m from HAVAÍC in equity raise