The investors at NaiBAN are very excited to announce our latest angel investment in AiCare.
AiCare is pioneering telematics in Kenya to become a recognized technology partner for the auto industry. Their intention is to provide accurate data insights to auto manufacturers, insurers, banks, and fleet managers to help them reduce risk, build value, and promote safe driving. Their in-house solution considers Africa’s road infrastructure and unique driving patterns for a truly localized risk profile relevant for the region.
According to a recent Accenture report, “Telematics is a game-changing opportunity for insurers to fundamentally change consumers’ perceptions and reshape the global motor insurance industry.” AiCare is starting operations in Kenya and is already exploring opportunities across the continent.
NaiBAN is pleased to be co-investing with an amazing and strategic lead investor, Mobility54 as well as other angel investors including Ram Ganesan.
AiCare was co-founded by two exceptional entrepreneurs, Arthur Mulwa and Jaime de Miguel. The founders met at Antler East Africa, an early-stage VC enabling and investing in exceptional entrepreneurs.
As CEO Mulwa says, “Our mission is to empower motor insurance companies by providing innovative telematics technologies that have enormous potential in this sector.” In NaiBAN’s, this equates to a win-win-win: better intelligence for insurance companies and fleet managers so that they can make better decisions, right-sized and affordable products for consumers, and a potentially exceptional outcome for the founders and investors.
Congratulations to the AiCare team. We are super excited to see what you do next.
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About NaiBAN: NaiBAN is a group of 30+ business angels that actively support startups with advice, connections and capital. We support phenomenal founders and teams in the pre-seed and seed rounds.
Learn more at https://naiban.co/