On the continent of Africa, there are many car owners and car users without access to insurance or regular servicing.
There are even people who have used different car apps to trace stolen cars and some that have used car rental apps to rent cars with ease in Africa.
Carscan is an example of such vehicle technology. The company has developed an augmented reality (AR) program with incorporated artificial intelligence (AI) that generates an accurate, dependable, agnostic, full, and traceable digital record of a vehicle.
The platform eliminates fraud, governance, and industry risks, allowing automotive ecosystems to buy, sell, rent, service, insure, finance, and auction cars with confidence.
The South African car tech company just obtained $1.3 million in follow-on finance to help it grow its operations.
In less than a minute, anyone can examine and extract facts about an automobile using Carscan’s digital application, cutting the insurance claim procedure from weeks to minutes. Carscan promises to be the first of its kind in the world.
Obins Choudhary and Chander Prakash launched the company, which secured a seed round sponsored by Kalon Venture Partners, Launch Africa Ventures, and the IDF in late 2020. The same three investors, as well as Allan Gray E2 Ventures and AlphaCode, are part of the latest round.
Carscan has had a lot of progress with users in South Africa, Nigeria, and India, and has just finished excellent proof of concepts in a few Gulf nations.
Although its technology has a variety of additional applications, it is now focused on automotive inspection and insurance.
The need for car apps in Africa and other markets is evident. The benefits are also apparent: it will help people know and understand better about car ownership, insurance, and traffic rules.
With over 700 Million cars, there is a lot to benefit from in terms of the mass adoption of auto tech.
The use of auto tech can significantly change the way cars, and the car transportation system, are used in Africa.
By enhancing the insurance and transportability of cars, auto tech can have a big impact on the commercial development of the continent.
The increasing popularity of the internet and the advent of new technologies have led to an increased demand for auto tech.
These technologies help expedite car insurance and increase its cost-effective nature. The success of these technologies will also lead to reduced purchases rates of cars while aiding in releasing stolen cars and aiding automobile rental companies through increased user-friendliness. All these benefits increase commercial development in Africa.
Thus, according to Prakash, Carscan aids the consumer and makes the entire claims procedure straightforward and painless.
Carscan is used by a variety of local and international clients and was created in collaboration with one of South Africa’s leading automobile companies.
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