The AutoTech space in Africa is undoubtedly growing and garnering the attention of the local and international stakeholders.

From platforms that provide insurance for car owners to platforms that provide car rental service and tracking, the AutoTech space in Africa is on a threshold of unfounded growth it hasn't experienced over the years.

In a recent update, Carscan, an example of such vehicle technology-based company, has obtained $1.3 million in follow-on finance to help it grow its operations. This funding is coming up after the startup developed an augmented reality (AR) program with incorporated artificial intelligence (AI) tasked to generate an accurate, dependable, agnostic, full, and traceable digital record of a vehicle.

Carscan's technology eliminates fraud, governance, and industry risks, allowing automotive ecosystems to buy, sell, rent, service, insure, finance, and auction cars with confidence and ease.

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The startup was founded by Obins Choudhary and Chander Prakash. Upon launch, the startup secured a seed round sponsored by Kalon Venture Partners, Launch Africa Ventures, and the IDF in late 2020. Leading in this new funding are the same three investors from 2020, as well as Allan Gray E2 Ventures and AlphaCode who joined in this round.

Carscan boasts of users across South Africa, Nigeria, and India, and has also just concluded an excellent proof of concepts in a few Gulf nations.