Fleeti - Afrikan Heroes

Newly Funded Fleet Management Startup Fleeti Expands To Morocco

March 14, 2023

Fleeti, a Senegal and France-based firm specialised in field operations management and digitization, has announced its entrance into Morocco.

The company, which provides innovative solutions to collect, centralise, and analyse data from field operations (vehicle fleet, machinery and equipment, cold chain, production chain, and so on), is expanding its international reach “to meet the growing demand of its customers in Morocco,” according to a press release from management.

According to Fleeti’s National Manager in Morocco, Omar Alami Idrissi: “Nowadays, a rising number of Moroccan businesses must reduce operational costs while also digitising their field activities. That’s where we come in! “.

Fleeti, formed in 2020 by Iban Olçomendy and Gabriel Delerue, raised €3 million in seed funding from investors including Newfund, Janngo Capital, PG Dev, and Proparco. Because of recent investments, the startup has already covered 9 countries. This funding will allow it to widen its expansion, namely in Africa, where it has already built a firm position in a critical region, allowing it to continue its worldwide development.

Fleeti has created an artificial intelligence-powered SaaS platform to increase the productivity, safety, and sustainability of its customers’ field operations. It provides various features such as geolocation, fuel consumption analysis, cold chain monitoring, car sharing, operational safety, and equipment maintenance management, which are easily integrated into customers’ daily software thanks to automated data sharing, allowing them to reduce fuel consumption by up to 20% and increase fleet productivity by an average of 15%.

Fleeti fleet management Fleeti fleet management

Senegalese Fleet Management Startup, Fleeti, Raises $3.1M To Accelerate Growth

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Senegalese Fleet Management Startup, Fleeti, Raises $3.1M To Accelerate Growth

March 5, 2023

Fleeti has just raised three million euros ($3.1M) in funding, an amount that will allow the Franco-Senegalese fleet management start-up to expand its presence on the African continent, notably in the nine countries where it now operates.

The startup, on the other hand, is relying on this capital to launch new products and continue to spend in R&D.

The investment came from investors including Newfund, Janngo Capital, PG Dev, and Proparco.

“The support of these investors demonstrates the relevance of our model and our ability to execute a vision in France and on the African continent. Our technology has the potential to positively transform the way of managing its operational chain so that it is more efficient, sustainable and secure,” says Iban Olçomendy, co-founder and CEO of Fleeti.

Fleeti, founded in 2020 by Iban Olçomendy and Gabriel Delerue, provides a SaaS platform. The latter combines data analysis with artificial intelligence. So, the programme allows you to geolocate automobiles, assess fuel usage, and verify cold chain monitoring, as well as approve car sharing, control of safety measures, and even maintenance management.

Fleeti thus assures that enterprises utilising its platform are able to “lower their fuel usage by up to 20% and raise the productivity of their fleet by 15% on average and strengthen operational safety”.

Presently, the Fleeti platform is used by 200 clients, some of which are multinational corporations such as Auchan, Vivo Energy, and Fedex.

From Starting In Senegal To Raising Over $1m, The Story Of African Fleet Management Startup, Fleeti

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

From Starting In Senegal To Raising Over $1m, The Story Of African Fleet Management Startup, Fleeti

February 16, 2022

Fleeti has announced its coming in Reunion in 2022, having already established itself in Senegal, Côte d’Ivoire, Ghana, and Mauritius. The announcement comes on the heels of the startup recent $1.1m seed funding led by Newfund, Groupe Clim, Janngo, SkalePark, Mapinvest, and other business angels. Fleeti leverages the Internet of Things to improve vehicle fleet management. Gabriel Delerue, one of the startup’s co-founders, discusses more below…

What drew two graduates of Edhec, one of France’s top business schools, to take on the task of managing vehicle fleets in Africa?

Gabriel Delerue: Senegal was where I spent the majority of my childhood. Iban Olçomendy, my business partner, is Basque. He was working for Jumia (a pan-African e-commerce site dubbed “African Amazon” — Editor’s note) when we met. We have collaborated to establish a network of high-quality garages in Dakar at affordable costs. In a nutshell — neither I nor Iban are mechanics (laughs) — our clients urged us to shift our focus from physical maintenance to cost optimization through telematics. As a result, Fleeti was conceived.

Could you share more information about Fleeti?

We’ve created software that helps businesses make better use of their fleets of vehicles and machines. It enables more stringent fuel management and exact monitoring of vehicle condition and, as a result, vehicle maintenance. The Internet of Things is the foundation of our solution. It is made up of hardware (cameras, probes, and sensors) as well as software (SAAS platform). Fleeti collects a significant amount of data, but more importantly, it is able to make it understandable so that business executives can make the best decisions possible. Data visualization is what we do. Our technology can help a firm save up to 20% on fuel costs! The construction, agriculture, distribution, and delivery industries are all contenders for our solution. Our market is expanding at a rate of 20% each year.

fleet management Fleeti — *The Senegalese team of Fleeti. Source: Fleeti.*

Your startup gathers and analyzes data. Their data collecting, on the other hand, is extremely sensitive. The General Data Protection Regulation (GDPR) exists . How can you adhere to them while still assuring your customers?

That is an excellent question. It is critical for our customers. We collect highly confidential and thus sensitive information as a result of our activities. Our main issue is the General Data Protection Regulation (GDPR). We comply with local legislation in Mauritius, Senegal, and, eventually, Ivory Coast. Furthermore, all of our information is encrypted and safeguarded. They are kept in France, or at the very least in Europe. As a result, the GDPR protects them. Above all, they cannot be monetized during or after our clients’ contracts.

What Are On The Fleeti Team?

The Fleeti team is made up of people from over ten different countries and spans the Basque Country, the Technopole Izarbel, and Africa, with regional offices in Dakar and Mauritius.

Fleeti raised one million euros from the Newfund investment fund and business angels, demonstrating the seriousness of your project?

That is correct. This funding will enable us to speed up the technological development of our instrument and expand the reach of our solution into new markets. You are in Senegal, Ivory Coast, Ghana, and Mauritius, to be precise.

What’s the status of your deployment in the Indian Ocean, namely in Reunion?

We have genuine pan-African ambitions, and I emphasize solely African ambitions. Mauritius is still a “small” market, but it is first and foremost a testing ground. The maturity of its participants “tests” our ability to provide high-quality services. We’ve already visited four countries. Fleeti plans to open in Reunion in 2022, demonstrating our ambitions. There are no immediate plans for Madagascar unless an opportunity occurs.

Senegal-based Fleet Management Startup, Fleeti, Secures $1.1m In Seed Funding

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Senegal-based Fleet Management Startup, Fleeti, Secures $1.1m In Seed Funding

November 24, 2021

Fleeti, an ESTIA-incubated startup specializing in the administration of African vehicle fleets, has raised one million euros ($1.1m) from Newfund, Groupe Clim, Janngo, SkalePark, Mapinvest, and business angels.

“When it comes to fleet management software, the first thing that comes to mind is geolocation. While this is an essential prerequisite for analysis, it is far from sufficient and often provides little added value to companies. Fleeti’s technology helps businesses better understand the power of data coming from their operations. In addition, we do not just send raw data to our customers but provide them with recommendations according to the sector in which they operate,” said Iban Olçomendy.

This funding will allow the company to speed up the technological development of their solutions and expand its reach into new markets.

Fleeti fleet management — *The team at Fleeti. Source: Fleeti.*

Why The Investors Invested

Agathe Descamps, in charge of the development of Newfund NAEH, said:

“The potential for rapid development in Africa, the expertise and the ambition of the founders convinced us to invest in this company to support it in its development.”

Newfund, a €250 million early-stage investment fund founded by François Véron and Patrick Malka in 2008, is funded by entrepreneurs and family offices committed to entrepreneurial development. Aircall, In2Bones, Fairmarkit, and Eqinov are among the almost 100 active Newfund participants in 2021. Luckey Homes (acquired by Airbnb), Medtech SA (acquired by Zimmer Biomet), and Beyond Ratings are just a few of the fund’s notable exits (acquisition by London Stock Exchange Group). In addition, Newfund is the only French seed fund operating in the United States.

A Look At What The Startup Does

Founded in July 2020 by Iban Olçomendy and Gabriel Delerue (both EDHEC grads), Fleeti aims to help companies reduce their fuel consumption and improve the performance of their fleet. Its technology, which combines embedded sensors and SaaS software, simplifies data collection and analysis to allow companies to easily obtain clear KPIs on their operations. Its solution is already deployed in four countries in Africa (Senegal, Ivory Coast, Ghana and Mauritius).

With regional offices in Dakar and Mauritius, the staff of more than ten nationalities spans the Basque Country, the Technopole Izarbel, and Africa.

In March 2021, Fleeti won the Bask’Invest competition, which was organized by the France-based Institute of Advanced Industrial Technologies (ESTIA) in collaboration with EY, CCI, and Airbus.

Fleeti fleet management Fleeti fleet management

From Custos To Gokada, What And How Are The Commonest Internal Conflicts Plaguing Startups In Africa Resolved?

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer