LocoNav aims to bring tens of thousands of commercial vehicles on board in its first year of operation.
LocoNav, the world’s fastest-growing AI-driven full-stack fleet-tech company expands its global footprint with its GCC debut at GITEX this week. With this expansion, LocoNav aims to bring tens of thousands of commercial vehicles on board in its first year of operation. Launched in 2016, LocoNav makes fleet tech more accessible and affordable for fleet owners and operators. Its recently launched disruptive Video Safety Solution of Dashcam + Video Telematics combo helps improve road safety, reduce liability risk, and improve driver behaviour starting at prices that are almost 30 to 40% lower than existing solutions.
LocoNav Co-Founder Vidit Jain said “We are pleased to be here at GITEX for the very first time to introduce our cutting-edge fleet technology to the GCC. The atom of LocoNav is the commercial vehicle, and we hope that by being here this week, we can maximize partnerships with fleet owners, operators, and enterprises that form part of the larger fleet management ecosystem. ”
LocoNav‘s end-to-end platform is in use in over 30 countries, with more than half a million vehicles using the core fleet-tech product, and 5 million vehicles using at least one of its products or services.
At GITEX, LocoNav will demonstrate its new Advanced Driver Assistance System (ADAS) and Driver Management System. This AI-powered technology uses sensors in the dashcam that warn the driver in real-time of any possible forward collision or lane drifting. Smart alerts give the fleet operator immediate notification of dangerous events such as harsh braking, speeding, distracted driving, or sharp vehicle turning. This system also offers live video streaming so fleet owners can keep an eye on things.
Fleet Owners can then use this real-world footage to coach drivers toward better driving behaviour and enhance overall fleet safety. Incident videos are also available for a significant period on the LocoNav platform for use in case of evidence for any liability claims from adverse incidents.
Loconav Co-Founder, Shridhar Gupta said, “We believe that business owners should not have to suffer exorbitant prices for a technology that can improve their business and peace of mind. We are committed to improving safety and efficiency at affordable rates for every commercial vehicle in the region. Our AI-backed tech encourages better driving behaviour and alertness to prevent accidents and save lives.”
Loconav recently raised $37 million in a Series B round with the aim to expand operations to over 100 countries in the emerging world. This funding round was led by Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners and other leading investors. LocoNav had previously raised $10 million taking the total to ~$47Mn.
Source: Business World