INDIA INVESTMENT NEWS

Hong Kong's K2 Capital backs IoT transportation solution startup TempoGO

TempoGO’s IoT layer includes a GPS-based hardware unit that tracks vehicle location and speed, and a sensors set

By Sainul Abudheen K

The TempoGo team
TempoGO,
 an Internet of Things (IoT) and SaaS solution for commercial transportation, has raised US$825,000 in seed funding, led by K2 Capital of Hong Kong.

Founded in 2015, Mumbai-based TempoGO provides IoT and Saas solutions for the transportation industry. Its  integrated platform connects vehicles, people and trips, and improves the productivity of a commercial vehicle fleet, either passenger or freight.

TempoGO’s IoT layer includes a GPS-based hardware unit (including a built-in vehicle immobilizer) that tracks vehicle location and speed and a sensors-set (monitoring ‘door-open’ and temperature-variation status of the load-bay), plus an OBD 2 adapter to automatically record and transmit engine data as well as vehicle behaviour including sudden acceleration or deceleration.

Must Read: How a loyal customer saved this startup from a sea of problems and gave it a breath of fresh air

The SaaS layer includes trip management and fleet management software and a dashboard for actionable business intelligence using data analytics.

Over the last 12 months, its solution was used on 1,800-plus inter-city trips in India covering 650,000-plus kilometres for over 300 clients, including Bisleri, Blue Dart, Oyo Rooms and Havell, according to a statement from the company.

Pranav Shirke, Co-founder and COO of TempoGO said: “With the second-largest road network in the world, India has over 8 million commercial transportation vehicles that drive across the length of 4.7 million kms of roads. But unbelievably, nearly 75 per cent of these do not yet leverage technology.”

Aaditya Goyal, Head of Technology at TempoGO, said: “We are a unique combination of IoT sensors (GPS, temperature, door closing…) on the vehicle plus a SaaS platform. This allows simple answers to key questions: Is my driver driving dangerously or at high speeds? Or pilfering fuel? Is he adhering to pre-decided routes? What state is my cargo in? Did the temperature inside my cold-chain container vary? When should I take them in for maintenance? How can I reduce vehicle insurance premiums?”

TempoGO’s clients include freight transport companies, cold-chain companies, logistics companies, distribution companies with their own fleet of vehicles, bus or taxi operators, corporate employee or school/college bus fleets.

Image Credit: franckito / 123RF Stock Photo

  • TempoGO
    TempoGO India IoT and SaaS solutions for the Transportation Industry. Their integrated platform connects Vehicles, People and Trips. And dramatically improves the productivity of a commercial vehicle fleet. Funding: 825K Seed Investors: K2 Capital
  • K2 Capital
    K2 Capital Hong Kong K2 Capital Group is a national provider of equipment finance solutions. Headquartered in Minneapolis, K2 Capital delivers creative, competitive financing alternatives directly to businesses. Funded Startups: TempoGO

Share your thoughts with the community

What are your thoughts? Login to post a comment