trackNOW, a Gujarat-based startup specializing in fleet management and telematics solutions, has raised an undisclosed amount of funding in an extended seed round. The funding was led by prominent investors, Yohan Poonawalla and Michelle Poonawalla of the Poonawalla Engineering Group. The company, founded in 2016 by Pooja and Suyash Khemka, provides advanced real-time tracking solutions that cater to diverse industries such as coal, oil, FMCG, agriculture, construction, and healthcare. trackNOW’s platform uses innovative technology to improve operational efficiency, utilizing AI-based driver behavior scoring and analytics. The fresh funds will help enhance research and development while expanding the company’s market presence.
About trackNOW: Revolutionizing Fleet Management with Cutting-Edge Telematics
trackNOW, a forward-thinking startup based in Gujarat, India, is revolutionizing the fleet management and telematics space. Founded in 2016 by Pooja and Suyash Khemka, trackNOW offers real-time tracking solutions via a mobile app for Android and iOS, catering to industries like logistics and agriculture.
Business and Revenue Model
trackNOW operates primarily on a Platform-as-a-Service (PaaS) model, offering customizable solutions for various industries. The company generates revenue through SaaS subscriptions, with clients paying based on features and usage. It also offers ERP integrations for custom solutions. The user-friendly app provides AI-based driver behavior scoring, turnaround time optimization, and graphical reports, offering actionable fleet insights.
This tech-driven approach boosts productivity and reduces costs, making it ideal for industries with large-scale logistics operations.
TrackNOW’s Extended Seed Funding Round
trackNOW raised undisclosed funds in its extended seed round, with key contributions from Yohan and Michelle Poonawalla. The company had previously raised funding from GI Ventures and Anmol Jaggi, the co-founder of BluSmart.
This investment is a key milestone, helping trackNOW speed up R&D and scale operations across India.. In a statement, Pooja S. Khemka, trackNOW co-founder, thanked the Poonawalla Group, calling their investment a strong endorsement of their vision. This partnership not only provides us with capital but also invaluable mentorship and industry expertise.”
The Founders and Their Vision
trackNOW was founded by Pooja Khemka and Suyash Khemka, a husband-wife duo with a passion for technology and a commitment to improving fleet management for businesses in India. Pooja’s background in the tech industry has greatly contributed to the startup’s innovative solutions. Suyash, with his experience in business strategy, complements Pooja’s vision, helping trackNOW address the unique challenges faced by businesses in India.
TrackNOW’s Services and Products
trackNOW’s offerings cover a range of solutions aimed at improving the efficiency and visibility of fleet operations. Here’s an overview of the core services:trackNOW offers real-time fleet tracking, giving businesses better control over logistics. Its AI-based driver behavior scoring helps optimize fleet performance and reduce risks. The platform also provides advanced analytics for informed decision-making and seamless ERP integration for smooth data flow.
The Purpose of Fundraising
The primary goal of trackNOW’s latest funding round is to expand its R&D efforts and enhance operational efficiency. As demand for telematic solutions grows in India, trackNOW aims to enhance its platform, focusing on AI and data analytics to stay ahead in the telematics industry. The funds will also help expand its customer base, add industry-specific features, and improve ERP integration.
This funding round highlights trackNOW’s potential to support India’s evolving logistics and fleet management sectors, driven by the rising need for smart logistics.
Investors’ Comments
The Poonawalla family’s investment highlights their commitment to mentoring entrepreneurs. Yohan Poonawalla said, “Investing in startups like trackNOW fosters innovation.
Michelle Poonawalla echoed this sentiment, adding, “We are thrilled to partner with trackNOW and support their growth journey. “This investment shows our commitment to empowering Indian entrepreneurs and creating value for the broader economy.”
Learning for Startups and Entrepreneurs
The trackNOW story provides several valuable lessons for budding entrepreneurs:
- Adaptation to Market Needs: trackNOW understood the challenges businesses face in managing large fleets and built solutions tailored to these problems. This strategic focus on solving real-world problems is a key takeaway for any startup.
- Innovation is Key: The use of AI and telecommunications in fleet management demonstrates how integrating advanced technologies into existing industries can bring significant improvements.
- Industry Partnerships Matter: trackNOW’s partnership with investors like the Poonawalla family shows how crucial strategic partnerships can be in scaling operations and gaining credibility in the market.
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At The Startups News, we cover the latest in startup funding, entrepreneurial insights, and industry growth trends. From AI-driven startups to innovative solutions in logistics and fleet management, we provide real-time updates on business developments in India and across the globe. Stay tuned for more updates on business funding news, tech innovations, and the growth of emerging startups in our tech ecosystem.
