LocoNav Raises $37 Million to Scale its AI-Driven Fleet-Tech Platform | LocoNav

The next two years will be focused on building solutions that reduce fleet running costs by up to 50% and drive a positive impact on climate sustainability”, said the founders of LocoNav. This raise will support LocoNav’s ambition to replicate its success in India across global emerging markets, and help to build additional partnerships and channels, make strategic acquisitions as well as establish a local presence in key geographies.” added the founders. “Shridhar and Vidit have found the ideal playbook for delivering world-class value-added services and products to fleet owners across the globe through the use of AI and software solutions. We are thrilled at how rapidly the firm has been able to expand its global footprint by replicating its own model and suite of offerings for fleet owners.” Shubhankar Bhattacharya, General Partner, Foundamental. The round also saw participation from global tech leaders such as Anjali Joshi (ex VP-Product at Google), Anand Chandrasekaran (ex CPO at SnapDeal, ex Director Facebook), Manik Gupta (ex CPO at Uber), Jai Shekhawat, Mark Licht, Akhil Paul, Vas Bhandarkar, Ajay Agarwal (Partner at Bain Capital Ventures), Abhi Ingle (COO at Qualtrics), Aadil Mamujee and others.