TempoGO, an IoT and SaaS solution for commercial transportation, has raised $825,000 in seed funding led by K2 Capital of Hong Kong.
Over the last 12 months, the TempoGO solution has been proven on 1,800+ inter-city trips in India covering 650,000+ kilometres, for 300+ clients including Bisleri, Oyo Rooms and Havells.
Says Vikas Goyal, owner of Shree Roadways, a 30-year old transportation company whose vehicles do over 6,000 long-distance trips annually, “A lot of fuel is wasted if the vehicle engine is ‘On’ when idle. Earlier, there was no way for us to remotely track the vehicle’s engine status. Now, with TempoGO’s solutions, we can do it within 30 seconds, reducing our fuel consumption by over 15%.”
Pranav Shirke, co-founder and COO of TempoGO is an engineer and MBA from IIM Calcutta who’s previously worked with Infosys, TCS and was the co-founder and CEO of a healthcare operations start-up. He says, “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% of these do NOT yet leverage technology.”
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. The SaaS layer includes Trip Management and Fleet Management software and a dashboard for actionable business intelligence using data analytics.
Aaditya Goyal, who heads Technology is a graduate of IIT Kharagpur, and was co-founder of last-mile urban transportation start-up Feedr and hyper-local delivery service BigZop. Says Aaditya “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?”
Sandipan Kumar heads the Product platform and has a Master’s (Computing and Mathematics) from IIT Kharagpur and an MBA from IIM Ahmedabad. He has spent over a decade with companies like PwC, IBM, TCS and Reliance Jio. He says “There are 60,000+ independent fleet operators, 20,000+ inter-city bus operators and 1.5 million passenger vehicles out there as our potential market.”
Examples of 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.
Harshwardhan Raikar, Co Founder and CEO of Guarented (funded by Kalaari’s KStart) says, “TempoGo helped us tremendously in real-time route planning and delivery scheduling to fight the Bangalore traffic. Our customer happiness index has improved dramatically since.”
Prateek Maheshwari, Co-founder and CEO, NightPanda says, “TempoGo has helped us reduce a lot of time which gets wasted in explaining customer’s address to the delivery boys.”
TempoGo was born at Prototyze, the incubator that’s catalysed a clutch of other funded companies, including Mobiefit (a mobile fitness company), HandyTrain (a mobile Saas platform for corporate training), Seynse (pronounced ‘Sense’) a financial technology company that operates a digital lending platform called Loan Singh.