Bengaluru-based Vehico that develop an Internet of Things (IoT) solution for the automobile industry has raised an undisclosed amount of angel investment from Calcutta Angel Network and Applyifi, an online platform for startup investments.
The fresh capital was raised in late October and will be used to strengthen the company’s product, scale up their technology infrastructure and for talent acquisition, to expand the team, Abhishek Chatterjee, the Founder and CEO of Vehico said.
Founded in early 2015, Vehico is owned and operated by Metaiot Technologies Ptv. Ltd. Before launching Vehico, Abhishek Chatterjee who graduated from the University of Calcutta has worked with IBM and Tata Steel.
Its flagship product, Vehico Fleet is a telematics-based fleet management and analytics solution which facilitates distance transmission of information that will enable automobile industry and users to remotely control and manage data in vehicles.
It offers fleet owners and car rental companies with real-time insights on the vehicle health as well as the driver behavioral patterns. This information data will allow the user to save money on fuel and vehicle maintenance which will avoid potential accidents.
“Using our predictive analytics enabled dashboard, they can plan, budget, forecast and allocate resources beforehand thus improving the overall efficiency,” Chatterjee said.
The company also offers Vehico Link, a hardware device that similarly collects and monitors the vehicle’s performance data ranging from driver to its surroundings. But the difference lies in part that it runs optimised edge analytics algorithms which will provide a precision point driver performance information.
“Within the next 2 quarters, we are coming up with advanced hardware, product improvements, and an API-based solution which anyone can integrate with their current solution. Our vision behind Vehico is to build a connected transportation ecosystem bringing better safety, security, connectivity and efficiency in the transportation industry,” Chatterjee said.
Vehico had received a small, first tranche of seed investment from the same angels in June this year.
Vehico develops Internet of Things (IoT) solutions for the automobile industry. The company provides a one-stop solution to all fleet optimization problems through Vehico Fleet, an advanced fleet intelligence and data analytics suite designed for intelligent vehicle tracking, driver performance analytics, smart vehicle diagnostics and problem alerts.
For more information, please visit http://www.vehi-co.com/
By Vivian Foo, Unicorn Media
This news is published on Reuters.