Fleet technology company, Bonnet has launched a
crowdfunding campaign to take its innovative vehicle
software one step closer to global expansion.
Bonnet
aims to change everything about vehicle compliance,
transforming a system managed manually in spreadsheets into
an accurate, easy-to-use software system that can track an
entire fleet’s servicing, WOF, REGO, RUCs and COFs in one
place. The software integrates real-time data from NZTA into
an alert system, ensuring all vehicles using Bonnet are
compliant, insured and safe on the road.
On average,
Bonnet users save fleet owners approximately $8,500 and 240
hours per fleet each year by switching from spreadsheets to
Bonnet.
“Bonnet has become an indispensable tool for
businesses, particularly in the construction sector with
some businesses previously tracking up to 150 vehicles at
once manually,” explains founder, Steph
Kennard.
Fleet Software includes a dashboard and app for use in the
office and on the road.
(Photo/Supplied)
Bonnet has a
pre-money valuation of $4 million and is seeking $800,000
from investors in exchange for equity. This investment will
see Bonnet expand its market share and extend its exclusive
tech features in New Zealand in preparation to enter global
markets.
Bonnet manages over 53,000 vehicles across
New Zealand with month-on-month revenue consistently
increasing, from July to August there was 85% increase in
revenue due thanks to a change in approach that enabled
fleet users to uncover the full potential of
Bonnet.
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The crowdfunding campaign has been spurred on
by user interest in investment.
“A Bonnet user
contacted us directly with an investment enquiry, so we put
the word out to our whole database and received 250
investment enquiries almost instantly,” explains
Kennard.
Steph Kennard saw a gap in the automotive industry for an
automated fleet system.
(Photo/Supplied)
“This raise
will help us to lay the groundwork for our international
expansion and we would like to offer our customers to become
an integral part of our journey and growth,” Kennard says.
Kennard says.
The funds will be used to accelerate
sales and marketing in New Zealand, further develop
Bonnet’s hardware-free vehicle connection feature –
directly connecting vehicle computers to Bonnet via API, and
prepare for expansion into the UK – a market ripe for
disruption due to its upcoming RUC regulations and strict
compliance requirements.
“Smaller businesses,
especially those with passenger vehicles, are turning to us
to manage their RUCs at a fraction of the cost charged by
traditional GPS tracking companies that require expensive
hardware,” Kennard explains.
“The Ford Ranger and
Toyota Hilux are among the most commonly managed vehicles on
our platform, reflecting the needs of our users in the
construction industry.”
Bonnet’s journey is deeply
personal for Kennard, whose passion for the automotive
industry was sparked by her uncle, Dave Blyth, a pioneer in
automotive software and web development in New Zealand.
Growing up immersed in motorsport and technology, Kennard
was inspired to explore the intersection of these
fields.
While working at Fiat Chrysler in 2014 she
noticed there was no comprehensive tool to manage vehicle
compliance, leaving a significant gap in the market. Kennard
launched Bonnet in 2022.
The global fleet management
market was valued at $20 billion in 2020, and Bonnet is
positioning itself to capture a significant share as more
countries introduce stringent regulations including
Governments moving to implement EV road user chargers.
Bonnet is currently the only software available to reliably
track RUCs across fleets.
Investors interested in
supporting Bonnet’s growth and innovation are invited to
participate in the equity crowdfunding campaign on PledgeMe.
This is a unique opportunity to be part of a New Zealand
tech story aiming to transform fleet management.
For
more information and to invest in exchange for equity, visit
the PledgeMe campaign
page.
