Connected VehicleVehicle Telematics

fleetx.io raises pre-series A funding

Gurgaon based intelligent fleet management and predictive analytics platform, fleetx.io, raised an undisclosed amount of funding from India Quotient and LetsVenture’s Angel fund.

Launched in 2017, the company is providing predictive analytics services to over 200+ clients. fleetx uses AI, big data and predictive analytics to help fleet owners improve their efficiency, safety and make smart and better decisions in a cost effective and flexible way.

Telematics Wire had a talk with one of the co founders of the company,  Vineet Sharma. The excerpts of the conversation are as follows.

1. What makes fleetx different from other vehicle tracking solution providers in market, where some of them are also providing data analytics services and many of them are in vehicle tracking services?

VS : The answer lies within the question itself. The myth in India is that Fleet management is all about GPS/Vehicle Tracking but we dont believe in that. We are not just the vehicle tracking solution provider, we are a fleet management company which digitise all the operations of any fleet owner and logistic company and also provides insightful and actionable items in a user friendly way to the fleet owner for better decisions. Earlier, customers used to rely on downloading the reports and do the data aggregation themselves and try to make sense out of that data which we are trying to improve where you can get any metrics about your business performance in few clicks. We are building the Google Analytics for fleet management.

Our vision is to improve the P&L (which is the most important business metric) of our customers by optimising the different part of operations. Our data uptime is more than 99% which is way more than the industry average because we use an intelligence layer to mitigate data corruption and automatic remote debugging of the devices.

2. Who are your potential customers and how will they benefit from fleetx services.

VS : Our primary customers are fleet owners (any type of fleet) but we are trying to customise some products which can be helpful in managing operations of the logistics and 3PL companies as well. These products can be used out of the box without changing the existing hardware or ERP solutions in a plug and play manner and will provide end to end visibility to the enterprise logistics companies.

3. Where do you think we(industry service providers) are in terms of vehicle diagnostics and preventive maintenance? For interpreting the error codes have you tied up with automotive companies or any service provider.

VS : We believe Vehicle Diagnostics and Preventive Maintenance is still at nascent stage in our industry even though it is one of the major cost contributor. It is mostly because of the awareness and engagement with the customer which is the are we are working on right now. We are in discussion with couple of major OEM’s for customise DTCs data so that we can mutually benefit each other and educate the industry.

4. When you say, “…AI, machine learning, sensors and predictive analytics to help fleet owners”, does it mean you are building AI/ML based predictive analytics in your solution. Please elaborate.

VS : Yes, there are few proprietary solutions we have built, which are using AI and predicts and detects the anomalies in the vehicle/driver/ data.

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