Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 67

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4
Chunk 67
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Item 4. INFORMATION ON THE COMPANY

  HISTORY AND DEVELOPMENT OF THE COMPANY  

We were founded in 2001 in South
Africa with an initial focus on SVR services in the region. We have strategically grown our business and are now a global provider of
a leading operations management SaaS platform. Through our cloud platform, we empower businesses to conquer operations including fleet
maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact.
Our differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency,
improve safety and strengthen workforce and customer satisfaction.

In 2020, we moved our global
headquarters to Singapore, where we believe we have access to the talent and capital to maintain and further our technological and operational
leadership in the industry. Since our founding, we have gained vast expertise and enhanced our business in the following areas:

  Developing new software applications such as fleet management,                       

  Developing capabilities in data management at scale as well    

  Expanding our sales and marketing focus to include commercial  

  Expanding our geographic footprint to meet the needs of our                               

Our single user interface and
fully integrated cloud-based platform runs agnostically on a multitude of leading IoT devices, including internally developed cutting-edge
devices, direct integrations to OEM devices and strategically cost-effective smart IoT devices from third parties and customer pre-owned
devices. This enables us to deliver a unified and comprehensive service to our customers while maintaining control of our cost structure.
Our discreet, sophisticated smart devices stream data to the platform, facilitating informed decisions about optimal asset efficiency
and productivity, including live tracking and location of assets. Customers utilize the platform through an easily accessible web-based
portal or mobile application, which is designed to be easy to deploy across our customers’ entire mobile asset fleet. Our devices
can be installed in a range of mobile assets independent of asset procurement, allowing our customers to integrate our solutions in existing
or new vehicles. Our platform includes a wide range of reliable services to effectively serve the needs of a geographically diverse range
of clients.

As part of a limited strategy
to distribute our SaaS platform through independent business owners, our solutions are sold through independent licensees in Botswana,
Malawi, Rwanda and Zimbabwe, who enter into franchise agreements and have exclusive geographic licenses to market and sell our solutions
in exchange for royalty payments. Revenue generated by licensees was 0.1% of our total revenue for the financial year ended February