Here in India, IoT is (finally!) becoming the rage it should be. Riding on that rage is a fresh new startup named Locanix, which has raised a fresh funding round of Rs. 2 crore. It saw participation from Goldman Sachs’ senior executive and technology company CISCO.
Ruchit Surati, who founded the company, said that the money raised in the current round will be used to scale up its business. However, he has not revealed any specific details.
The company, which is around three years old, provides Internet of Things based logistics solution. It uses GPS based tracking solutions that help to improve safety, security and operational efficiency.
With a vision to change the way transport works in India, Locanix is on a mission to drive IoT innovation into every moving vehicle in India.
The company’s current clientele includes companies like DSK Toyata, Sadbhav Engineering and Amul. It has also partnered with truck manufacturer Mahindra & Mahindra’s truck & bus division (MTBD).
It builds innovative SaaS based solutions using GPS location information ranging from corporate fleet management to consumer vehicle solutions. The firm’s major focus lies on safety, security and operational efficiency.
It is offering four solutions – Track-N-Trace, Smart Fleet, Fuel Monitoring and Temperature Monitoring. Track-N-Trace equips fleet with GPS tracking solution. It includes features like Real-time Tracking, Animated Vehicle Trails, History Tracking, Trip and Idle Reports, Over-speeding, etc.
Smart Fleet is a suite of advanced GPS Tracking solutions to help optimize fleet. It makes sure that users never miss critical alert, nor they have to be dependent on anyone for updated information about any vehicle.
Locanix’s fuel monitoring solutions focus on cost savings by addressing operational concerns around fuel utilization in vehicles. Its temperature monitoring service is for certain types of cargo which require specific temperatures to be maintained to avoid being damaged.
The startup claims to be using the most reliable hardware and software to ensure uninterrupted service. It differentiates itself by providing superior customer service and making customer experience the best in the industry.
Locanix partners with multiple hardware manufacturers and constantly tests new products to find the right device at the right price.