SunTelematics with new, innovative and disruptive technology for the transportation industry raised Pre-Series A funding
This 3 year old bootstrapped company raised an undisclosed Pre-Series A funding from angel investors. Catering only to B2B logistics, this company could grow to a stage of having 1 million in revenues and more than 100% YoY growth.
“We are happy to announce that the investor has chosen to support our company for our next-gen software platform and disruptive innovation which would change the way the logistics industry operates today,” said Mr. Antony Sheen, Founder & CEO. “We are a three-year-old bootstrapped startup. This Pre Series A round is to scale up our operations and bring about an organized behavior in logistics industry, enabling this sector to optimize and earn more.”
The funds are going to be used for scaling up operations and infrastructure.
“We wanted to make technology affordable to every segment of transportation industry, and that is why we have designed and developed applications which are easily scalable using next-gen technologies,” said Mr. Sasikumar Arumugham, CTO & Co-Founder.
They cater to corporate transportation, FMCG, Pharma, enabling transparency and cost optimization with a technology platform. Antony said, “We have a B2B SAAS-based business model growing more than 100% year on year basis. We are launching our new products DRIVE & NATIONAL PERMIT which will generate significant transaction revenues, and will be the first company in the Telematics space in India to drive this innovation.”
Logistics is a tricky business when it comes to B2C or B2B. In B2B the volume is more so margins can be pulled out from the revenues, but in case of B2C this is slightly difficult. Recently we have seen startups closed down or facing money trouble because of logistics.
Logistics startup FarEye recently raised $3.5M and they also handle logistics across industries. Another startup that raised funding and have in house logistics are Kabadiexpress with Rs 1Cr. While Boogybee provides logistics based on a monthly subscription to freelance online sellers.
Startups that had issues with logistics are LazyLad, GetNow and Grofers. LazyLad closed B2C segment and planning to go into B2B, while GetNow closed its shutters for good, Grofers shutdown in 9 cities and Parcelled stops self delivery.