Ctrack, a South Africa–based global leader in telematics and fleet management technology, has raised $23.4 million in fresh equity funding to accelerate its international expansion and enhance product innovation.
The funding round was led by Sanari Capital, which invested approximately $14.4 million, alongside 27four Investment Managers, which contributed about $9 million. The new capital will support Ctrack’s next growth phase following its recent acquisition of Inseego’s international telematics business, positioning the company for greater scale and technological advancement.
Headquartered in Centurion, Gauteng, Ctrack operates across Africa, Europe, the UK, and Australia, offering advanced telematics and analytics solutions through its “Crystal” platform. The platform provides AI-driven insights, real-time tracking, predictive maintenance, and asset optimisation tools for clients in logistics, construction, insurance, transport, and government sectors.
Ofentse Pelle, Principal at Sanari Capital, said the investment comes at a pivotal moment for Ctrack:
“Ctrack is at an inflection point — it has a proven model, strong leadership, and the ambition to scale globally. Our investment will help the company deepen its technology capabilities and expand its footprint across key markets.”
Rory Ord, Head of Private Markets at 27four Investment Managers, added: “Ctrack is well-positioned to lead the next wave of telematics innovation, combining data analytics and domain expertise to deliver measurable value to clients worldwide.”
With this funding, Ctrack plans to grow its R&D capacity, enhance AI and IoT integrations, and expand customer access to real-time data intelligence. The move also strengthens South Africa’s reputation as a hub for cutting-edge telematics and mobility technology, contributing to local job creation and digital innovation.
The investment underscores rising investor confidence in African technology companies that are scaling globally, particularly those with strong recurring revenues and operational footprints across multiple regions.
