Mumbai-based IoT and Saas solutions provider for transportation industry TempoGo, has raised about Rs 5.6 Cr in its seed round of funding from a clutch of investors, reported VCCircle. The raised capital will be used for upgradation of technology and team expansion.
Founded in 2015 by Pranav Shirke and Aaditya Goyal, TempoGO offers IoT and Saas solutions for the transportation industry. Its integrated platform connects vehicles, people and trips, and improves the productivity of a commercial vehicle fleet, either passenger or freight.
The startup’s IoT part includes a GPS-based hardware unit to help track down the vehicle’s location and speed and a sensors-set, as well as an OBD 2 adapter to automatically record and transmit engine data and vehicle behaviour including sudden acceleration or deceleration. As for the SaaS service, it includes trip management and fleet management software and a dashboard for actionable business intelligence using data analytics.
From inception, TempoGo has already has over 300 clients, including Bisleri, Blue Dart, Oyo Rooms and Havell.
With the second-largest road network in the world, India has over 8 million commercial transportation vehicles that drive across the length of 4.7 million kms of roads. But unbelievably, nearly 75 per cent of these do not yet leverage technology, said Pranav Shirke, co-founder and COO of TempoGO.
Other startups in this space include Goa-based HandyTrain, Chennai-based Zarget and Bangalore-based EPaathSala.