Full-stack fleet software company LocoNav Inc has announced that it has raised $37 million in its Series B funding round.
The latest funding round saw participation from Anthemis Group, Quiet Capital, Sequoia Capital India, Foundamental, Uncorrelated Ventures, RIT Capital Partners, Village Global, among other investors.
Speaking on the announcement, 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.”
Shailesh Lakhani, MD, Sequoia India, added, “LocoNav‘s end-to-end platform for global commercial vehicles is resonating well with fleet owners around the world. This significant market opportunity is one we have been excited about for several years and it is wonderful to see the pace of execution from the team at LocoNav. Sequoia Capital India is delighted to participate in their Series B financing.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.