With this launch, LocoNav also marks its entry into high-growth emerging markets like South Africa, Australia, and Malaysia, expanding its international presence to 30+ countries. The company’s aggressive growth strategy is in line with its vision of democratizing access to expensive yet essential fleet technology for millions of fleet owners and drivers.
LocoNav, a disruptive full-stack fleet-tech startup, today democratized access for over 250Mn commercial vehicles to the ‘future of telematics’ – a combo offering of AI-enabled Advanced Video Telematics and DashCam at affordable prices, up to 30-40% less than prevailing market prices. With this launch, LocoNav also marks its entry into high-growth emerging markets like South Africa, Australia, and Malaysia, expanding its international presence to 30+ countries. The company’s aggressive growth strategy is in line with its vision of democratizing access to expensive yet essential fleet technology for millions of fleet owners and drivers.
With over 5Mn vehicles served, LocoNav has been growing aggressively empowering fleet owners and drivers with technology that enables efficient business operations. Now with Advanced Video Telematics, LocoNav aims to bring about a radical change in emerging markets where no more than 30% of the 250Mn commercial vehicles use any form of fleet management tech! The reason being expensive technology. With limited or no access to affordable and efficient technology, fleet owners and drivers resort to using rudimentary technology leading to business losses and road accidents endangering driver lives. As per the Ministry of Road Transport and Highways, Indian roads witness 415 deaths per day in accidents, the highest in the world. About 1.5 lakh people are being killed in road accidents and 3.5 lakh are crippled annually. LocoNav aims to unleash the power of AI-enabled Video Telematics coupled with a range of world-class DashCams to solve this.
Advanced Video Telematics has the capability to truly prevent accidents, save lives and bring efficiency to fleet management businesses by offering data-backed evidence in light of any insurance claims occurring from adverse incidents while the commercial vehicle is on the road. It also encourages better driving behaviour and alertness. Speaking on the launch and expansion, Co-Founders – Shridhar Gupta and Vidit Jain, said, “We believe that a commercial vehicle is the atom of LocoNav. By leveraging the power of IoT and AI, we centre all our efforts around this atom so that we can give the world a global, scalable, and disruptive solution that will have an incremental positive impact on the lives and livelihoods of everyone in the industry. This has been our driving force since we started operations. Today, we serve over 5 million vehicles worldwide with LocoNav’s products and services. By introducing AI-enabled Advanced Video Telematics, which we believe is the future of fleet telematics, we want to empower fleet owners in developing nations with access to premium fleet-management technology at reasonable prices. This in turn has the potential to benefit the larger logistics and supply chain ecosystems, and positively impact climate sustainability. We will continue to identify and disrupt key markets with high-growth potential and a significant number of commercial vehicles as we scale across the globe.”
LocoNav’s Advanced Driver Assistance System (ADAS) uses AI-powered sensors to warn the driver in real-time of any possible forward collision or lane drifting. This system also offers live video streaming through a dual-channel dashboard camera that faces both the driver and the road. Smart alerts give the fleet operator immediate notification of dangerous events like harsh braking, speeding, distracted driving or sharp vehicle turning. Fleet operators and owners can then use this real-world footage to coach drivers toward better driving behaviour and enhance overall fleet safety. What’s more, incident videos are also available for a significant period on the LocoNav platform for use in case of evidence for any liability claims in case of adverse incidents.
The combo offer includes DashCam and Advanced Video Telematics along with a 3-year warranty, a 3-year subscription to the LocoNav ADAS platform, live streaming, and data storage for incident videos. In India, LocoNav is adding even more value by bundling mobile data of upto 1GB a day for a period of 3 years into the combo. The starting price for this combo offering in India is INR 44,999. Fleet owners and operators can book a demo on LocoNav.com to avail the solution that works best for their business.
Source: Business World
