Vahanalytics, a Mumbai-based startup that aims to make Indian roads better and safer via real-time vehicle analytics, has raised $200,000 in its seed funding round through seed funding platform – Venture Catalysts, led by Vikram Lakhotia and Anirudh Damani.
The investment into the company is aimed at addressing a global problem on a local scale, including on-road transportation efficiency.
Commenting about the investment, Dr. Apoorv Ranjan Sharma, Co-founder, Venture Catalysts, said,
Data analytics in transportation using telematics is the need of the hour. The space is extremely exciting and opens the door for almost limitless possibilities for implementation. The decision to invest into Vahanalytics was taken due to its strong founding team, its vision and its potential to create an excellent product.
The company was founded earlier this year by BITS Pilani alumni Shivalik Sen, Arun Gandhi, Nikhil Tavora and Someshwar Dash. The same team of founders had earlier founded Driven, a startup that provided on-demand chauffeurs, which was sold to Chennai-based rival DriversKart earlier this month.
Vahanalytics aims to improve drivers and roads through smarter data and machine learning. The platform captures real-time data about driving habits and road conditions using smartphones, which is then processed and refined by leveraging the power of Big Data in order to extract useful insights.
Commenting about the company, Shivalik Sen, Co-founder, Vahanalytics said,
We started out as an on-demand driver service and built a driving analytics module to help track and train our drivers. While doing so, we realized that there was a distinct lack of a similar scientific metric to quantify and judge driving behavior as well as to identify and train drivers in areas which require improvement. Seeing how this tool could have a number of use-cases across industries such as transportation, logistics and insurance, we spoke to several businesses and received an overwhelming response for the idea. This was what made us go all in with Vahanalytics.
Vahanalytics is targeting the markets of logistics, transportation and on-demand deliveries. They are currently running beta version with seven companies. The platform is expected to launch officially between October to November this year and the revenue will be generated by SaaS-based subscription model.