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India Based Startup Loconav Raised 37m in Funding

The India based startup LocoNav, which helps the fleet operators in managing the operations of their vehicles, recently launched a new version of their platform. It allows them to track their vehicles in real-time and monitor the status of the fleet in their dashboard.

Startup’s AI platform helps fleet operators manage their fleet operations

A startup has launched an AI platform to help fleet operators manage their fleet operations. Its products help improve safety and efficiency while also reducing costs.

In addition to its flagship product, Safetrax, the company offers other innovative software. This includes auto-generating paperless invoices and real-time monitoring. The company is also a pioneer in deploying artificial intelligence-powered cameras.

As a result, its products provide increased visibility for global fleets and improved financial performance. They also reduce incidents and improve driver safety.

Nauto’s software is based on artificial intelligence and helps optimize driving distraction and collision risks. It also offers claims management and driver coaching solutions.

Fleetio’s platform is cloud-based and offers fuel and maintenance management. In addition, it provides real-time tracking of vehicles and routes. Similarly, its app, EYERIDE, alerts drivers when they drift or get sleepy.

Another startup, Freterium, works with logistics companies across the Middle East and North Africa. Its solutions include an IoT-based platform.

In May, the company raised $1 million in funding. This will be used to expand its product suite and scale up artificial intelligence investments.

Motive has been dubbed KeepTruckin before it changed its name to Motive. It’s previously been supported by Scale Venture Partners and Index Ventures.

Currently, it is working with customers in the trucking industry. Its latest round of funding is for $190 million, a combination of Series E and F funding. These funds will be used to further develop its product line, which now includes a corporate credit card for spend management.

Shridhar Gupta and Vidit Jain speak to TechCrunch

The first time I met Shridhar Gupta and Vidit Jain they had a fleet of over 500 vehicles at their disposal and they weren’t exactly a swarm. They started looking for the best fleet management software and a few months later came up with LocoNav. Since then they haven’t looked back and have raised a whopping 37m in funding with plans to go public. Their current marquee product is the LocoNav fleet management solution which is a cinch to operate. As for growth, it’s been steady and they are looking to expand into new markets in the near future.

Earlier this year the company launched a nifty little microsite to keep track of their growing customer base. One of the best parts of the rebranding is that the company can now take advantage of its massive data set to deliver targeted solutions to their customers. Specifically, they’ve been tasked with helping fleet owners reduce operational costs by up to 50%. This in turn, has allowed them to expand into the nascent enterprise mobility industry. For example, they are partnering with leading global fleet management firm Fleetcor to build out a robust customer service solution.

LocoNav’s platform helps fleet operators manage their fleet operations

LocoNav is an end-to-end fleet management solution platform that has been serving more than a million commercial vehicles in over 25 countries around the world. The company’s mission is to democratize the access to fleet technology in the emerging markets.

Its innovative, AI-based, telematics-driven tracking ecosystem delivers a single platform for managing fleet operations. It has an extensive network of service providers and support systems, and it offers rich analytics, customised reports and alerts.

The company’s fleet management solution provides a complete view of a fleet’s expenses and trips. It also includes a suite of safety features that are designed to prevent accidents and improve vehicle maintenance.

The company also provides vehicle insurance coverage. Vehicle telematics provide real-time alerts on vehicle location, status, and health. Users can also view live video footage of their vehicles. In addition, LocoNav’s Vehicle Tracking app allows users to lock and unlock their vehicles. Moreover, the application offers reports on their health and driving habits.

LocoNav’s Vehicle Tracking app is compatible with over 2200 devices from a variety of manufacturers. Drivers can access a range of functions on the app, such as live alerts and vehicle location, in 14 languages.

The company also has a suite of products to help fleet managers improve efficiency and productivity. These include Fleet Management Solution, which includes vehicle immobilisers, door sensors, and temperature sensors. Additionally, it allows users to create trip schedules and manage service reminders.

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