Transportation technology provider Sun Telematics has announced raising another round of pre series-A funding from angel investors. The deal size hasn’t been disclosed. The company previously raised half a million dollars in June 2016. It has recently launched a new tech platform called 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. It helps the transport vendors in end to end automation, cross utilisation of supply, passenger safety and managed multiple demand channels.
With the freshly raised capital, the company plans to push deeper into Tier 2 cities. They share that over 30+ corporates and 50+ transport vendors are using Drive platform with over 15K vehicles executing over 50K trips everyday. They claim a current user base of a million and expect to reach ten times of that by the end of this year.
The company’s CEO Mr. Antony Sheen shared, “We are happy to enable small transport vendors to adopt technology and enable them to compete with big organized players. Bottom up competition from small operators will result in efficiency and transparency in people transport industry.”
Competition from big taxi aggregator companies and recent national policy guidelines on urban mobility by Ministry of Road Transport and Highways, are driving unorganized players to implement technology platform like ‘Drive’. The market size is estimated to be USD 9 billion, fuelled by the growth of smartphone and internet adoption.
“We are making technology accessible to the smallest transport vendors and vehicle owners operating in the remotest corner of India,” said Sasi Armugham, Sun Telematics Co-founder and CTO.
You can find more details about Sun Telematics here.