Fleet Management Startup LocoNav Raises $4 Mn From Sequoia
by Inc42 2019-05-24
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Delhi-based fleet management startup BT TechLabs, the parent company of LocoNav, has raised $4 Mn (INR 28 Cr) in a Series B round of funding.


According to the Ministry of Corporate Affairs filings, the investment has come in from the company’s existing investor Sequoia Capital in two tranches from January to May 2019. With a nominal value of INR 100 and a premium of INR 8,715.01, the company has issued 31,765 Series B CCPS to SCI Investments V Body Corporate.


(picture source: Inc42)