About GoFar
GoFar is a company based in Sydney (Australia) founded in 2014.. GoFar has raised $1.08 million across 2 funding rounds from investors including Kickstarter, Right Click Capital and Artesian. GoFar offers products and services including GOFAR App, GOFAR Adapter, and GOFAR Ray. GoFar operates in a competitive market with competitors including CaRPM, Carly, Carmen Automotive, AutoWiz and Bouncie, among others.
- Headquarter Sydney, Australia
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Sectors
Transportation, Automotive & Logistics
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.08 M (USD)
in 2 rounds
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Latest Funding Round
$927.93 K (USD), Seed
Feb 18, 2019
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Investors
Kickstarter
& 2 more
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Employee Count
Employee Count
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Products & Services of GoFar
GoFar offers a comprehensive portfolio of products and services, including GOFAR App, GOFAR Adapter, and GOFAR Ray. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for automatic trip recording and vehicle health monitoring.
Device that plugs into car for trip logging and fault detection.
Accessory that provides visual alerts for driving efficiency and safety.
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Funding Insights of GoFar
GoFar has successfully raised a total of $1.08M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $927.93 thousand completed in February 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $927,932
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First Round
First Round
(01 Jun 2015)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2019 | Amount | Seed - GoFar | Valuation | Right Click Capital | |
| Jun, 2015 | Amount | Seed - GoFar | Valuation | Kickstarter |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in GoFar
GoFar has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Kickstarter, Right Click Capital and Artesian. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech focused VC firm investing in Australia
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Founded Year | Domain | Location | |
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Venture capital and private debt fund focused on climate, agrifood, health, AI, and multiple sectors
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Founded Year | Domain | Location | |
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Creative projects are crowdfunded via a cloud-based platform.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by GoFar
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - GoFar
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Gofar Comparisons
Competitors of GoFar
GoFar operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as CaRPM, Carly, Carmen Automotive, AutoWiz and Bouncie, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Car performance is monitored using OBD-II technology for real-time data.
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| domain | founded_year | HQ Location |
OBDII adapters and apps for vehicle diagnostics are offered.
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| domain | founded_year | HQ Location |
Provider of a smart device to monitor car performance
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| domain | founded_year | HQ Location |
Connected vehicle data analytics platform and applications are provided.
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| domain | founded_year | HQ Location |
Vehicle tracking device offering location, safety, and health monitoring features.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about GoFar
When was GoFar founded?
GoFar was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is GoFar located?
GoFar is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
Is GoFar a funded company?
GoFar is a funded company, having raised a total of $1.08M across 2 funding rounds to date. The company's 1st funding round was a Seed of $154.35K, raised on Jun 01, 2015.
What does GoFar do?
GoFar was founded in 2014 in Sydney, Australia, focusing on the automotive technology sector. An OBD-based device is utilized to measure vehicle vital statistics, including fuel purchased, fuel consumed, and engine energy generation costs. Data is transmitted via Bluetooth Low Energy to nearby smartphones. A companion app is provided for recording and visualizing these statistics. A patented eco-display system is also offered for attachment to vehicles.
Who are the top competitors of GoFar?
GoFar's top competitors include CaRPM, Carmen Automotive and Carly.
What products or services does GoFar offer?
GoFar offers GOFAR App, GOFAR Adapter, and GOFAR Ray.
Who are GoFar's investors?
GoFar has 3 investors. Key investors include Kickstarter, Right Click Capital, and Artesian.
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