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IoT and SaaS-based techno-logistics solution provider TempoGo has secured $825K in its Seed round of funding led by K2 Capital of Hong Kong.
Founded in 2015 by Pranav Shirke and Aaditya Goyal, TempoGO’s IoT-based software includes a GPS-based hardware unit that tracks vehicle’s location and speed. It also comes with a built-in sensor, in addition to an OBD 2 adapter to automatically record and transmit engine data as well as vehicle behaviour including sudden acceleration or deceleration.
The SaaS layer includes trip management and fleet management software and a dashboard for actionable business intelligence using data analytics.
Pranav Shirke, co-founder and COO of TempoGO said, “With the second-largest road network in the world, India has over 8 Mn commercial transportation vehicles that drive across the length of 4.7 Mn kms of roads. But unbelievably, nearly 75% of these do not yet leverage technology.”
The company claims that its IoT solution has been used in more than 1,800 inter-city trips in India covering more than 650K kilometres, for around 300 clients, including the likes of Bisleri, Blue Dart, Oyo Rooms, and Havells.
TempoGo
In June 2016, New Delhi-based transportation solution provider in the B2B segment, Gobolt raised an undisclosed amount in its Pre-Series A round. In the same month, freight logistics marketplace Dipper Technologies raised an undisclosed amount from unnamed angel investors. Following that, in October 2016, Chennai-based B2B logistics startup FR8 raised about $971K (INR 6.5 Cr) from agritech-focussed VC firm Omnivore Partners.
TempoGO competes with other startups like LogiNext, Telematics4u, AssetTrackr, and Locanix among others.
