LocoNav, an Indian firm that helps drivers and fleet owners in more than a dozen countries manage their cars more effectively and save money, has secured $37 million in a fresh round of funding.
Quiet Capital, Anthemis Group, Foundamental, Sequoia Capital India, RIT Capital Partners, Uncorrelated Ventures, Village Global, and others contributed to LocoNav’s new Series B fundraising round. The latest funding round takes LocoNav’s total funding to $47 million, with operations in San Francisco and Gurgaon.
LocoNav’s platform, which uses AI to help fleet owners manage their operations, keep track of performance, and improve efficiency, is used by over half a million vehicle and fleet owners in 25 countries today.
The platform of the business assists and advises drivers in making smarter decisions.