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Quiet Capital, Sequoia India, and others invest $37 million in LocoNav.
Unsplash/Unsplash/Unsplash/Unsplash

Pramugdha Mamgain, 29 June 2021

Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners, Uncorrelated Ventures, and Village Global, among others, participated in a $37 million Series B fundraising round for LocoNav, an AI-driven intelligent fleet management system and expense management platform.
Anjali Joshi (ex-VP-product at Google), Anand Chandrasekaran (ex-CPO at Snapdeal and ex-director at Facebook), Manik Gupta (ex-CPO at Uber Technologies), Jai Shekhawat, Mark Licht, Akhil Paul, Vas Bhandarkar, Ajay Agarwal (partner at Bain Capital Ventures), Abhi Ingle (COO at Qualtrics), and Aadil Mamujee all participated
The funding will be used to expand LocoNav’s technology and data science teams in San Francisco, Gurugram, and Bengaluru. According to the founders, the next two years will be devoted to developing solutions that lower fleet operating expenses by up to 50%.
Since its inception in 2016, the LocoNav app claims to have been utilized by over half a million vehicle/fleet owners. With AI-based technology, the company assists users in managing their fleet operations and providing advice that help them make better decisions to improve fleet performance.
In 25 nations, the platform is already operational.
Sequoia Capital India and Foundamental led previous rounds of funding for LocoNav, which totaled $10 million. It has raised $47 million so far.

Sequoia Capital India Anthemis Group LocoNav Quiet Capital

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