Ahmedabad based IoT startup Locanix is believed to have raised funds from group of investors including Cisco and Goldman Sachs for its GPS enabled logistics solutions. The Economic Times reported the company got investment of Rs 2 crore from the senior executives of the above mentioned firms.
According to its LinkedIn page, Locanix builds innovative solutions using GPS location information ranging from corporate fleet management to consumer vehicle solutions, with a focus on safety, security and operational efficiency.
Locanix has customers using Fleet Management Solutions to track their goods, secure their transport and drive business efficiency through ERP integration. Some use remote temperature and fuel monitoring solutions while others use vehicle immobilizers and driving habit analysis to ensure safety and security.
Some of its customers include Amul, DSK Toyota and Sadbhav Engineering, according to the news report.
The three year old IoT startup Locanix would use the funds to scale up its business.