TempoGO raises USD 825,000 in seed round

MUMBAI, Jan 5:  TempoGO, an Internet of Things (IoT) and SaaS solution for commercial transportation, has raised USD 825,000 in seed funding led by K2 Capital of Hong Kong.

Over the last 12 months, the TempoGO solution has been used or over 1,800 inter-city trips in India covering 6.5 lakh kms for 300 clients including Bisleri, Blue Dart, Oyo Rooms and Havells, it said in a statement here.

“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 per cent of these do not yet leverage technology,” said Pranav Shirke, co-founder and COO, TempoGO.

TempoGO combines IoT sensors (GPS, temperature, door closing…) on the vehicle plus a SaaS platform.

It is targetting 60,000+ independent fleet operators, 20,000+ inter-city bus operators and 1.5 million passenger vehicles as potential market, a statement said.

TempoGo was born at Prototyze, the incubator that 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. (PTI)