Funding Alert

LocoNav Raises Funding $37M In A Series B Round From Quiet Capital, Anthemis Group, Sequoia Capital India, Others

• ByStartupStory     |    June 29, 2021

LocoNav raises funding $37M  in a Series B round. The fresh funding came from Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners, Uncorrelated Ventures, Village Global, and other leading investors. LocoNav raises funding for building its technology further and data science team across San Francisco, Gurugram, and Bengaluru.LocoNav founders regarding its expansion said, “LocoNav will be utilising these funds to further build out its world class technology and data science team across San Francisco, Gurugram, and Bengaluru. The next two years will be focused on building solutions that reduce fleet running costs by up to 50 percent and drive a positive impact on climate sustainability.”

David Greenbaum, Partner at Quiet Capital said, “LocoNav has built an end-to-end product that becomes deeply embedded in how fleet owners and operators run their business. As a result, LocoNav has been able to scale rapidly through word of mouth, allowing the company to become a hyper growth market leader while also being very capital efficient.” LocoNav is a full-stack fleet software company focused on democratizing access to technology for drivers and fleet owners across the world. The startup uses  data insights to build customer-relevant services.

 

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