Private Equity Fund Investments
Fleet mgmt solutions co LocoNav raises $37-M from Quiet Capital, Sequoia India, others
Done Deals PE Fund Investments Fleet mgmt solutions co LocoNav raises $37-M from Quiet Capital, Seq
Gurugram-based fleet management solutions company LocoNav has raised USD 37 million in a Series B funding round led by Quiet Capital, Anthemis Group and Sequoia Capital India. Fundamental, RIT Capital Partners, Uncorrelated Ventures, and Village Global were among the other funds that participated in the round. The round also saw participation from angel investors such as Anjali Joshi (ex VP-product at Google), Anand Chandrasekaran (ex-director, 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. The funds will be used to expand to the US and global emerging markets, build partnerships and channels, and make strategic acquisitions. It will also help the company build a technology and data science team across San Francisco, Gurugram and Bengaluru. LocoNav helps users manage fleet operations and provides recommendations that help them make better decisions. The company had raised USD 10 million in earlier rounds led by Sequoia Capital India and Fundamental.
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