Sun Telematics Taps Another Round of Funding
Sun Telematics, a three-year-old start-up in telematics, has raised another round of pre series-A funding from angel investors.
The amount was undisclosed. Previously it raised half a million dollar in June 2016.
Here’s what may be exciting: The company has recently launched a new technology platform ‘Drive™’ for corporates, medium and small transport vendors to manage all types of people transport operations such as employee transportation, outstation car rental, city taxi operations etc., using a single platform.
Drive is designed to help corporate customers and transport vendors in end to end automation, cross utilization of supply, employee/passenger safety and security and manages multiple customer demand channels.
The platform has current user base of 1 million and expected to reach 10 million by the end of 2017.
Funding will be used to improve the technology platform and expand business in Tier 2 cities.
The company added that total market size is about $ 9 billion, with factors driving the growth including new digital technologies, smartphones and improvement in data networks.
More at: www.suntelematics.com.
Category: Connected Fleet News, General Update
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