Transportation tracking startup, MoveInSync, raises $8 mn

Bengaluru-based MoveInSync Technology Solutions, a transportation and logistics startup, has raised an $8 million investment round.

The startup runs a platform which provides users with features to improve their transportation and commuting experiences, such as tracking commute times and making sure the commute is efficient. The company was previously a car-pool startup called RideInSync.

Inventus Capital Partners, Saama Capital and Qualcomm Ventures are investors in the $8 million round led by Nexus Venture Partners, a statement from the company said.

“Our customers are seeing more than 20% cost reduction within six months of implementation of our system,” Co-Founder and CEO of MoveInSync said, as reported by Deal Street Asia. “By leveraging MoveInSync’s transport automation solution, companies also see increased employee satisfaction and are able to address employee safety.”

Funds from the Series B round will be put toward growth of a customer base, global expansion and service development.

Nexus Venture Partners, which is typically an early-stage venture capital firm based out of California, has previously invested in LiveHealth, Joveo and Pratilipi.

MoveInSync, in addition to its commute time tracking abilities, also provides users with vehicle tracking and a centralized command centre, to assist in safety issues and concerns.

The startup has previously raised a $3.5 million Series A round in 2014, followed by a venture debt investment from Innoven Capital in 2015.

(Picture courtesy: MoveInSync)

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