LocoNav raises $37m funding from Quiet Capital, Sequoia India, others

Photo: Unsplash

LocoNav, an AI driven intelligent fleet management system and expense management platform, has raised $37 million in a Series B funding round from investors including Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners, Uncorrelated Ventures, and Village Global, among others.

The funding round also saw the participation of Anjali Joshi (ex VP-product at Google), Anand Chandrasekaran (ex-CPO at Snapdeal and ex-director, Facebook), Manik Gupta (ex-CPO at Uber Technologies), Jai Shekhawat, Mark Licht, Akhil Paul, Vas Bhandarkar, Ajay Agarwal (partner at Bain Capital Ventures), Abhi Ingle (COO at Qualtrics) and Aadil Mamujee.

LocoNav will use the funds to further build out its technology and data science team across San Francisco, Gurugram, and Bengaluru. The next two years will be focused on building solutions that reduce fleet running costs by up to 50%, the founders said.

LocoNav app claims to have been used by over half a million vehicle/fleet owners since its founding in 2016. The company helps users with AI-based technology to manage their fleet operations and provide recommendations that help them to make better decisions to enhance fleet performance.

The platform is already live in 25 countries.

LocoNav had raised $10 million in prior rounds led by Sequoia Capital India and Foundamental. To date, it has raised $47 million.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.