LocoNav raises $37 million in funding from Sequoia India, others

Mumbai: LocoNav Inc., a fleet management solutions company, has raised $37 million in a Series B funding round led by Quiet Capital, Anthemis Group and Sequoia Capital India.

Foundamental, RIT Capital Partners, Uncorrelated Ventures, and Village Global were among the other funds that participated in the round.

The funds will be used to expand to other markets, such as the US and global emerging markets, build additional partnerships and channels, and make strategic acquisitions. It will also help the company build a technology and data science team across San Francisco, Gurgaon and Bengaluru, the company said.