This is an opportunity to invest in LocoNav's Series B+ alongside two large European family offices, joining cap table notables such as Sequoia, Quiet Capital, and Village Global. The Company is also backed by a number of high-profile tech executives including Anjali Joshi (ex-VP of Product at Google), Manik Gupta (ex-CPO at Uber), and Abhi Ingle (COO at Qualtrics). 

With its 1B+ datapoints analyzed daily, LocoNav is active in 50+ countries, serving 25+ industries from emergency services to construction to oil & gas to supply chain/logistics and beyond. Having only begun their expansion outside of India in early ’21, today ~50% of the Company’s revenue is global. The Company reports its telematics revenue has been growing 2X YoY ($2.9M in Q4 ’22, projecting $4.5M in Q1 ’23), with total revenue growing from $5.7M in ’21 —> $12.4M in ’22, projecting $26M in ’23.

CEO Shridhar Gupta has a number of years of entrepreneurial experience (sales, ops) in India/South Asia, with a prior exit in the wellness tech space. His co-founder/COO Vidit Jain also has a prior exit as founding engineer of Y-Combinator-backed Bizzy.  

LocoNav’s core product is their software servicing fleets both small (vehicle compliance, spend management, fuel economy, movement visibility) and large (predictive analytics on fleet performance, smart alerts + incident management, driving safety & coaching). Reportedly analyzing 1B+ data points daily across its SaaS platform, the Company also sells data products to a range of customers, including insurers, smart cities, and vehicle OEMs, and is pursuing further data cross-sell opportunities.

The LocoNav ecosystem

With its 1B+ datapoints analyzed daily, LocoNav is active in 50+ countries, serving 25+ industries from emergency services to construction to oil & gas to supply chain/logistics and beyond. Having only begun their expansion outside of India in early ’21, today ~50% of the Company’s revenue is global. The Company reports its telematics revenue has been growing 2X YoY ($2.9M in Q4 ’22, projecting $4.5M in Q1 ’23), with total revenue growing from $5.7M in ’21 —> $12.4M in ’22, projecting $26M in ’23.

$12.4M revenue in 2022 (up 2X YoY)

Growth of telematics business
Quarterly revenue

In the wake of their last raise, the founders note the market has become very large over the past decade as drivers and fleet owners begin to engage with tech platforms (think: Fleetcor, Trimble, Samsara). LocoNav’s focus is the major markets : Africa, MENA, SEA.

Users & partners present a 30,000+ vehicle opportunity

Case studies

AI for driver safety @ Leading Taxi Company, India
A leading Vehicle Supply partner for Uber was able to improve Distracted Driving behaviour by 82% in 4 months LocoNav's VT solution alerts the drivers in real-time when camera identifies the driver to be Distracted / Drowsy and prevents major accidents from happening LocoNav provides critical video evidence to support accident investigation

AI for driver safety @ Olam, Nigeria
For OLAM, an African Fleet Operator, Driver related events reduced significantly over 5 months. Reductions were seen in Distracted driving by 16% and Drowsy driving by 87% since installation.

Savings from fuel @ GeoFast Carriers, India
Reduction in Fuel Theft: 2% to 5% of total fuel consumed — reduced to less than 1% Reduction in Truck Idling Instances: ~ 15% of total fuel consumed — reduced to less than 10% Savings: Cumulative Fuel Saved per year 1,19,000+ Litres | 1 Cr+ INR Together, up to 10% of total fuel expenses by the fleet is reduced with Fuel Monitoring solution.

Manifold opportunities in global emerging markets

$40M raised to date

• Series A $3.5M ($11M post) - November 2017
• Series A1 $6M ($4M at $24M post, $2M at $32M post) - 2019
• SAFE Pre Series B $2M ($40M post fixed value) - 2020
• Series B $30M ($215M post) - 2021
• SAFE Pre Series B+ ($400M cap 15% discount)
  
  

Notable investors
Sequoia Capital Quiet Capital Anthemis Foundamental VC Uncorrelated Ventures RIT Capital	Anand Chandrashekar Deep Nishar Jai Shekhawat Anjali Joshi Manik Gupta Juan Conesa (Prima Frio)

CEO Shridhar Gupta has a number of years of entrepreneurial experience (sales, ops) in India/South Asia, with a prior exit in the wellness tech space. His co-founder/COO Vidit Jain also has a prior exit as founding engineer of Y-Combinator-backed Bizzy.  

In addition to the carried interest Republic Deal Room Advisor LLC is entitled to for the syndicated investments it organizes, certain principals of Republic Deal Room Advisor LLC may have a personal interests in these investments, as disclosed below. When making an investment decision please review any applicable disclosures as they represent pre-existing financial interests held by those principals of Republic Deal Room Advisor LLC.

We do not represent that the information contained herein is accurate or complete, and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. Certain information contained herein (including any forward-looking statements and economic and market information) has been obtained from and/or prepared by the Company or other third-party sources and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Republic Deal Room Advisor LLC does not assume any responsibility for the accuracy or completeness of such information. Republic Deal Room Advisor LLC does not undertake any obligation to update the information contained herein as of any future date.