Africa’s auto tech
ServiceMyCar, Mechanic, and Mecho Auto tech are three African auto repair firms that received an undisclosed sum of money from Ingressive Capital. By 2023, statistics projects that South Africa alone would produce revenues of over 3.1 billion US dollars.
Ingressive capital
Mecho was one of the African firms chosen for the prestigious Y Combinator accelerator in Silicon Valley's S21 batch earlier this year. The startup's growth would be accelerated by financing from Ingressive Capital, a seed-stage investment company with offices in Lagos, Nigeria. To speed up the process of auto maintenance and repair, the platform connects car owners with mechanics.
Introduction of Mecho to Other Businesses
"The cooperation is really helpful to our company's efforts to actively construct a sales pipeline. This is due to Ingressive Capital will connect Mecho with major businesses that operate expansive fleets, hence offering support and networking opportunities.
Strategic Investments
Over the years, the investment company Ingress Capital has made a number of tactical investments in Africa. The company offers early capital for entrepreneurs in a variety of industries, including real estate, gaming, health tech, and fintech. It will be interesting to watch what ideas are spurred by Ingress Capital's stake in Africa's automotive repair sector.
