Poonawalla Group Makes Strategic Investment In Fleet Tracking Startup trackNOW

Poonawalla Group Makes Strategic Investment In Fleet Tracking Startup trackNOW

SUMMARY

The fresh infusion will enable trackNOW to scale up operations and get “access to invaluable mentorship and industry expertise”

Poonawalla Group also said that it is looking to expand its portfolio and make significant investments in other “high-potential ventures” in the near future

Founded in 2016, trackNOW leverages IoT, GPS and cloud computing to offers fleet management and tracking solutions to logistics platforms and retailers

The Poonawalla Group has invested an undisclosed amount of capital in fleet management startup trackNOW. 

In a statement, the Poonawalla Group said that the fresh infusion will enable trackNOW to scale up operations and get “access to invaluable mentorship and industry expertise”.

Founded in 2016 by Pooja Khemka and Suyash Khemka, trackNOW offers fleet management and tracking solutions to logistics platforms and retailers. Leveraging technologies such as Internet of Things (IoT), GPS, and cloud computing, trackNOW’s real-time monitoring solutions offer visibility into the location, status, and condition of their clients’ assets. 

Commenting on the fundraise, trackNOW cofounders said, “The investment from the Poonawalla Group is a significant endorsement of our vision and a testament to the hard work and dedication of our entire team… We are honoured to receive the support of such a renowned and respected group. This partnership will not only provide us with the necessary capital to scale-up our operations but also grant us access to invaluable mentorship and industry expertise.”

The Poonawalla Group said that it is looking to expand its portfolio and make significant investments in other “notable and high-potential ventures” in the near future. It plans to focus on backing ventures across diverse sectors, and offer them mentorship, industry expertise, and networking.

On the investment in trackNOW, Poonawalla Group chairman Yohan Poonawalla said, “Investing in promising startups like trackNOW is not just about financial returns… It’s about mentoring and empowering young, visionary entrepreneurs and providing them with the resources and support they need to succeed. We believe in the transformative power of innovation and are committed to fostering an environment where groundbreaking ideas can flourish.” 

The announcement came amid multiple developments in the Indian logistics sector. Earlier in the day, Shadowfax announced the acquisition of transportation and logistics startup CriticaLog India Private Limited.

On January 27, supply chain and warehousing startup Emiza also closed an INR 100 Cr Series C funding led by Evolvence India and Mirabilis Investment Trust. Last week, AI logistics platform, Netradyne, became the first Indian unicorn of 2025 after it raised $90 Mn in its Series D round led by existing backer Point72 Private Investments. 

Overall, the Indian startup ecosystem continues to see healthy investor interest. As per Inc42 data, homegrown new-age tech companies raised more than $12 Bn in funding in 2024, up 20% from $10 Bn in 2023. The country’s startup ecosystem also minted six new unicorns last year. 

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