Kalon Venture Partners and IDF Capital Invest in Carscan

Kalon Venture Partners, IDF Capital, and an unnamed investor have invested an undisclosed amount in Carscan, a South African technology startup in the automotive industry.

Carscan is a global first, car data application that allows you to capture and share accurate, reliable, agnostic, and traceable digital records of your car’s identity.

Carscan’s founders, Obins Choudhary and Chander Prakash identified a gap in the automotive industry which besides the buying and selling of cars has not been dis-intermediated.

Although the Carscan technology has a range of other use cases, their immediate focus is on sell & buy, insurance, audit, auction and car rental related applications.

Obins Choudhary brings a wealth of experience primarily from building disruptive and innovative AI products for the banking, insurance, and automotive industries.

Recently in an interview, he said, “Our innovative technology replaces traditional methods of the claims process, especially when one damages their vehicle. This leads to a reduction of fraud as well as savings for the insurer”.

Chander Prakash, a research scientist and full-stack developer who developed innovative banking and insurance products, said, “The consumer needs to feel free from the burden of the entire claims process, and Carscan does exactly that”.

Carscan is already working with a number of clients solving problems in insurance, audit, buy, sell, hire, etc. The technology has been developed in conjunction with one of the largest players in the automotive sector in South Africa.

With the partnership of these influential Venture Capital investors coupled with a company that has a large target addressable market in South Africa, Africa, and across the globe, a highly experienced team, a strong culture of delivering excellence and technology that is 10 X better than anything else in the market makes for an exciting venture to watch out for.