# GoFar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gofar-pty

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Sydney, Australia
- Website: www.gofar.co
- Total disclosed funding: $1.1M
- Latest round: Seed (Mar 30, 2019)
- Investors on record: 6

## About

GoFar Pty Ltd. specializes in innovative vehicle tracking and health monitoring solutions, offering products that enhance driving efficiency and simplify logbook management for drivers and businesses alike.GoFar Pty Ltd. provides technology-driven solutions for vehicle tracking and health monitoring. Founded in 2014 in Sydney, Australia, by Danny Adams, Ian Davidson, and Musawi Abdallah, the company has successfully completed 6 funding deals. The most recent deal occurred on November 11, 2022, when GoFar raised AUD 99,489 in venture funding from Lloyde.com Pty Ltd. The company currently holds a valuation of AUD 20.683 mn.GOFAR offers a comprehensive suite of products focused on vehicle tracking, health monitoring, and automated logbook solutions for drivers. The core product, the GOFAR Adapter, connects to a vehicle's diagnostics port, enabling automatic recording of trip data and monitoring of vehicle health. This solution is compatible with petrol, diesel, and hybrid vehicles manufactured since January 2007, catering to individual drivers, rideshare operators, and businesses needing mileage tracking for tax purposes. The optional GOFAR Ray accessory provides real-time feedback on driving behavior to enhance fuel efficiency and safe driving practices. GOFAR products are available in various markets, including Australia, the USA, and Europe, serving customers in over 53 countries.GOFAR generates revenue primarily through direct-to-consumer sales of its products, including the GOFAR Adapter and the optional GOFAR Ray. The company utilizes a transaction structure that includes sales through its own channels and external retailers like Amazon. Customers typically purchase the hardware up front, which includes access to the GOFAR app on iOS and Android. The app enhances the user experience by facilitating mileage tracking and vehicle monitoring, designed to streamline logbook processes for users, enabling them to maximize tax deductions without recurring subscription fees.In November 2022, GoFar Pty Ltd. raised AUD 99,489 in funding, which will be utilized to develop new products and expand into additional markets. The company aims to enhance its product offerings in vehicle technology and is exploring key markets for expansion, particularly in Asia and North America, with plans to launch new solutions by the end of 2023.

## Funding rounds

- Seed, Mar 30, 2019, $1.1M — Right Click Capital, Artesian, Caltra Pty. Limited, Brecon Investments Pty Ltd, Herneville Limited, Jonnim Pty Ltd

## Investors

- Right Click Capital (https://capitalatlas.ai/funds/right-click-capital) — Seed
- Artesian (https://capitalatlas.ai/funds/artesian) — Seed
- Caltra Pty. Limited — Seed
- Brecon Investments Pty Ltd — Seed
- Herneville Limited — Seed
- Jonnim Pty Ltd — Seed