Fleeti, a Senegalese startup incubated by ESTIA and specializing in the administration of vehicle fleets in Africa, has raised $1.1 million from investors including Newfund, Janngo, Groupe Clim, Mapinvest, SkalePark, and business angels.

With this funding, the company will be able to expand into new markets and accelerate the technological development of its solutions.

Iban Olçomendy and Gabriel Delerue founded Fleet in July 2020 (both EDHEC grads). Its goal is to assist businesses in lowering their fuel usage and maximizing the performance of their fleet.

Its technology simplifies data collection and analysis by utilizing integrated sensors and SaaS software, allowing businesses to easily obtain clear KPIs on their operations. . Fleet’s solution is already deployed in four African countries (Senegal, Ivory Coast, Ghana and Mauritius).

Newfund is a €250 million seed fund based in the United States that invests in early-stage companies from France. Family offices and entrepreneurs committed to entrepreneurial growth fund the organization, which was founded in 2008 by François Véron and Patrick Malka.

Aircall, Fairmarkit, In2Bones, and Eqinov being among the almost 100 active Newfund participants in 2021. A few of the fund’s notable exits include; Luckey Homes (acquired by Airbnb), Beyond Ratings, and Medtech SA (acquired by Zimmer Biomet), In addition, it is the only French seed fund operating in the United States.

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