HEALTH AND WELFARE

SA security startup AURA raises $420k follow-on funding from HAVAÍC

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South African cloud-based security and safety startup AURA has raised ZAR6 million (US$420,000) in follow-on funding from local VC firm HAVAÍC to continue its aggressive growth.

AURA has developed a cloud-based security and safety platform that provides on-demand, geographically-variable security responses from an aggregated collection of the best independent armed reaction companies in South Africa.

Its solution allows for a shift from location-specific protection to location-independent response and support, and offers a means of aggregating the supply of an otherwise fragmented industry without the need for the significant acquisitions activity that would ordinarily be associated with consolidation.

The startup originally raised funding from HAVAÍC, an investment and advisory firm that specialises in early-stage, high-growth technology businesses, in 2018, and has now raised further investment from the company as it looks to continue its growth into other African countries.

AURA has aggregated the supply of over 1,600 armed response vehicles, giving them access 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.

“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,” said AURA chief executive officer (CEO) Warren Myers.

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