LocoNav has announced equity buyback and ESOP programme worth $3 Mn
The ESOP announcement comes after the startup raised $37 Mn in Series B round
LocoNav will introduce a SaaS offering by leveraging data insights to India’s fleet management industry; it will be deeply embedded in how fleet owners and operators run their business
Delhi-based fleet management startup LocoNav has earmarked $3 Mn for its first ESOP and equity buyback scheme. Over 50 of its existing and former employees will be eligible to participate in this ESOP round and liquidate part of their vested ESOPs.
The ESOP announcement comes after the startup raised $37 Mn in Series B funding from Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners, Uncorrelated Ventures, Village Global, and other leading investors in July this year.