Mind Your Fleet, Indian ground transportation and logistics software provider, has closed its angel round of investments. The company chooses to keep the amount undisclosed as of now.
“We’re delighted to announce the closing of our Angel round of investments. Some of the most notable industry veterans have showed faith in our product and we wish to fulfil their expectations at all costs. The raised funds will be used to scale up infrastructure and talent acquisition process”, said Malvinder Singh Rikhy, co-founder, Mind Your Fleet.
The investors have expressed to remain anonymous as of now.
Founded in October 2014, Mind Your Fleet provides an online collaborative tool for all ground transportation & logistics company through a SaaS (Software as a Service)-based technology. With features such as native apps for customers, drivers, corporate bookers & suppliers, advanced booking engine, automated dispatching technology, easy payment integration through digital wallets such as Paytm & Mobikwik, quick and hassle-free invoice generation, Mind Your Fleet helps ground transportation & logistics companies, especially car & bike rental businesses to manage, promote and distribute their business online.
“With the coming of Uber and Ola in India, traditional car rental companies are struggling to run their businesses. At any given time, a car rental company utilizes only 30% of their accumulated fleet thereby wasting money on unused inventory. This is where Mind Your Fleet comes in. We want to bring the industry together with our unique inventory, fuel & vendor management tools”, said Jitender Arora, co-founder, Mind Your Fleet.
Several of India’s largest car rental companies like Eco Rent A Car, Magic Sewa, Fab Cars, Flash Cabs, RR Fleet Management, Cabs 24/7 etc. have already registered on Mind Your Fleet’s SaaS platform. In March 2015 alone, a total no. of 15000+ bookings was completed from the accumulated clients and the no. is expected to grow at a rapid pace in the next coming months.
Mind Your Fleet’s technology has also extended towards two wheeler rental services, starting with Gurugram (formerly known as Gurgaon)-based M-Taxi.
“The challenge for us has been to build a seamless product, equipped with the latest technology for all our clients and their various needs. Whenever we were integrating additional features, we had to remain extra cautious so that clients, who might not be well initiated with technology in general, don’t face any problem”, said Ashad U., Product Head, Mind Your Fleet.
Mind Your Fleet is now looking at global expansion by acquiring clients from Dubai, Kenya and New Zealand, and building an international real-time dedicated fleet for all ground transportation and logistics businesses.