A startup in the mobility sector, specializing in bus-sharing services, has successfully secured $1.4 million in pre-seed funding. The funding will be utilized to enhance its technology and extend its services to additional cities within North Africa and across the continent.
The funding round was led by Catalyst Fund, with contributions from Renew Capital, Digital Africa, Station F, and several other angel investors.
The co-founder and CEO of the startup expressed excitement about the funding, emphasizing the opportunity to expand their impact, reach, and technological advancements.
Established in 2023, the startup offers a pre-planned commuting service enabling users to book shared rides on mini-buses following fixed routes. Targeting urban cities in Morocco with overcrowded and unreliable public transportation, the startup aims to reduce the dependency on the existing bus rapid transit system, consequently decreasing traffic congestion.
The company aims to address the need for sustainable and efficient public transportation in Morocco’s expanding urban areas. By offering a pre-planning feature, the startup ensures timely pickups for commuters, especially in busy cities like Casablanca.
Recognizing the environmental and congestion challenges faced in urban settings, an investor highlighted their confidence in the startup’s ability to provide a scalable and eco-friendly solution for urban transit in Africa.
With a relatively small ride-sharing market in Morocco, the startup sees potential for growth and market expansion. Operating for over a year, the startup reports managing a significant number of ride bookings monthly and continues to experience monthly growth.
While facing competition from other transportation services, the startup’s unique offering focuses on cost-saving shared rides, differentiating it from traditional ride-hailing companies.
Investors acknowledge the importance of collective transportation solutions like those developed by the startup in addressing urban challenges across Africa.