Ahmedabad-based 3 years old logistic IoT startup, Locanix raised a funding of INR 2 crore from investors including senior executives from Goldman Sachs and Cisco.
Locanix builds innovative SaaS solutions using GPS location information ranging from corporate fleet management to consumer vehicle solutions, with a focus on safety, security and operational efficiency. The basic solutions include:-
- TRACK-N-TRACE: Basic tracking of the vehicle and associated reporting
- SMART-FLEET: Efficiency management of the fleet and cost reduction
- FUEL MONITORING: Management of fuel usage and wastage across vehicles
- TEMPERATURE MONITORING: Tracking temperature in individual cargo holds to ensure safe transportation of perishable goods
The Company has partnered with Mahindra and Mahindra and has also bagged clients like DSK Toyata, Sadbhav Engineering and Amul.
Ruchit Surati, co-founder, Locanix, said that the amount raised shall be used in further scaling up the business.