CarZar.co.za, which was founded in 2016, is now being backed by Vostok New Ventures, the Sweden-listed investment firm behind Avito, Russia’s leading online classifieds company.
Vostok New Ventures is listed on the NASDAQ Stockholm Exchange and has also funded other successful online tech-brands: BlaBlaCar, a leading long-distance ride sharing service; Gett, an on-demand taxi hailing service available in Israel, Russia, UK and New York City; and babylon, a leading AI-driven digital healthcare company.
Vostok New Ventures’ investment in CarZar is part of a larger funding round. CarZar is also backed by Silvertree Capital, the South-African based venture capital firm behind PriceCheck, the lprice comparison website, and CyberCellar, South Africa’s oldest online bottle store.
CarZar is an online car buying service for the second hand auto-trade industry in South Africa. In operation for only a year, the startup has been disrupting the second-hand car market by introducing technology to an industry that has remained traditional for decades.
CarZar Joint MD Fernando Pineiro says that, with this new round of funding, it will focus more on improving customer experience, as well as boosting marketing, and recruiting more talent to join their international team.
CarZar entered the second-hand car market with a clear mission: “empowering SA consumers to sell their pre-loved vehicles seamlessly”.
Potential sellers can go onto the CarZar.co.za website, and enter their cars details. CarZar’s algorithm will generate an estimate for the vehicle’s selling price instantly. If the sellers are happy with the estimated value, they can book a free inspection with one of CarZar’s fully trained car inspectors, at one of CarZar’s Car Buying Centres or at their preferred location. Within 20 minutes, the inspector will make a final offer to the seller. CarZar then makes an instant payment and takes care of all the paperwork. In all, the process takes 30 minutes.
The CarZar service comes at no cost to customers and is 100 percent obligation-free.
Vostok New Ventures identifies investment opportunities with strong network effect characteristics through expertise, experience and a widespread network.
Although CarZar may be a young tech-startup, the company has seen extensive growth while entering the market with a strong brand promise to guarantee safety, transparency, convenience and competence throughout the car selling experience. CarZar has expanded its scope from Cape Town to Johannesburg and Durban.
Pinheiro says consumer education is one of the biggest challenges CarZar has faced: “South Africans are proving to be ready to welcome new ways of getting ‘stuff done’. With the local market being extremely diverse and the auto industry being among the most traditional ones, South Africans are still familiarising themselves with new ways of selling their vehicles.
“We see technology being our key differentiator and main driver of growth. Additionally, we foresee territorial expansion in South Africa, introducing our services to even the smallest of towns.”
Car tech rules CES Asia
More than 60 automotive brands will highlight their latest innovations at the Asia edition of CES in Shanghai in June.
The Consumer Technology Association (CTA) has revealed that vehicle technology show floor space at CES Asia 2019 will double in size and showcase technology advances which make cars safer and more connected.
More than 60 global auto brands including Audi, Honda, Hyundai, Kia and Nissan will feature their latest innovations in vehicle technology across two major indoor exhibit halls, the event’s largest-ever vehicle tech footprint. CES Asia attendees will experience the latest concept cars and connected vehicles from self-driving to all-electric, making transportation safer and greener. CES Asia will run from 11 to 13 June 2019 at the Shanghai New International Expo Centre Center (SNIEC) in Shanghai, China.
CES Asia show director John T. Kelley said: “Today, every company is a tech company. Traditional automotive manufacturers are joining vehicle tech newcomers to exhibit at CES Asia, the perfect platform that brings together different industries to showcase their latest technologies in self-driving, clean energy and smart navigation features. CES Asia uniquely challenges the traditional auto shows in targeting the world’s largest auto market – China.”
German auto giant Volkswagen will join forces with Beijing-based Mobvoi for their CES Asia debut showcasing the latest development of AI coming to Volkswagen’s future cars. Inceptio Technology is another first-time exhibitor to demonstrate next generation self-driving technologies for trucks and transportation services. Other first-time exhibitors include Denso, FAW Hongqi, Great Wall Motor, Hexagon Manufacturing Intelligence, Hyundai Mobis, and Polestar. 3M, Bose, Continental, NIRA Dynamics AB, OnStar, Opus Microsystems, Smart Eye AB and United Automotive Electronic Systems are just a few of the notable exhibitors returning to the automotive show floor at CES Asia 2019.
CES Asia 2019 will focus on AI, 5G, Vehicle Tech, and startups from around the world. The show is expected to feature 550+ exhibiting companies, including more than 125 startups and represents the full technology ecosystem with innovations spanning 20 product categories. For the fourth year in a row, the United States Department of Commerce (USDOC) has granted Trade Fair Certification for CES Asia 2019, a formal federal endorsement of CES Asia as a recognized opportunity to showcase U.S. products and services overseas.
Visit CESAsia.com to register now and find more event details. WeChat registration for CES Asia 2019 is also available now. Follow us on WeChat (ID: CESAsia_II) to register.
How cars can stop flu
The car of the future could help win the battle against superbugs – according to Jaguar Land Rover. Future models could help stop the spread of colds and flu thanks to innovative ultraviolet light technology (UV-C) borrowed from the medical industry, where it has been used for more than 70 years.
By integrating UV-C, Jaguar Land Rover believes it could help to stop bacteria and harmful viruses, known as pathogens, from surviving in the cabin. UV-C is currently widely used for disinfecting water, filtering air and sterilising surfaces by utilising wavelengths of light between 200 – 280 nanometres.
Exposing pathogens to UV-C within the air conditioning system breaks down the molecular structure of the DNA, neutralising them. Clean air is then released into the cabin. The technology could even help in the fight against drug-resistant superbugs.
Jaguar Land Rover is exploring UV-C technology as part of its vision to create a tranquil sanctuary inside each of its luxury vehicles. The manufacturer is piloting a wide range of driver and passenger wellbeing features, as it looks towards a self-driving future.
Dr Steve Iley, Jaguar Land Rover chief medical officer, said: “The average motorist spends as much as 300 hours per year behind the wheel. There is a clear opportunity to better utilise cars for administering preventative healthcare.”
“The implementation of individual wellbeing measures as part of our ‘tranquil sanctuary’ research promises to not only improve quality of life for our customers but in this case, offers clear advantages in reducing pathogen spread – protecting the overall population from the threat of disease; particularly as we move towards shared mobility solutions.”
Jaguar Land Rover is already actively seeking to neutralise pathogens in its latest generation Heating, Ventilation and Air Conditioning (HVAC) systems, available across the range including the all-electric Jaguar I-PACE and Range Rover Sport. The current Four-zone Climate Control and Cabin Air Ionisation system works by using high voltage to create trillions of nano-sized negatively charged particles (ions) coated in water molecules. These ions deactivate pathogens, forming larger particles which are removed from the air as they are brought back into the filter. As well as combatting pathogens, the ions also act upon odour molecules and allergens in a similar way.
Dr Iley said: “In the colder months infections are spread more easily, it’s reassuring to know that in your car at least, you can be confident that harmful pathogens are being neutralised.”
Recent medical trials* suggest the use of UV-C could be even more effective as it has been shown to cut the transmission of four major superbugs by up to 30%. Researchers focused on four drug-resistant organisms: MRSA, vancomycin-resistant enterococci (VRE), C. difficile and Acinetobacter.
Immunology expert, Dr. Hellmut Münch, CEO at Medical Enzyme Research Association, said: “The rise of superbugs and allergens is one of the largest threats we face as a species today. Investment in immunology is vital in ensuring that our immune systems stay ahead of the race against microorganisms, which are evolving far quicker than traditional pharmaceuticals can keep pace with. It is important that we continue to take an innovative look at how we can adapt our environment to help prevent the spread of the most harmful pathogens – which is why this research is paramount.”