Fleet management and advanced telematic tracking solution startup trackNOW has raised an undisclosed amount in an extended seed funding round led by Yohan Poonawalla, Chairman of the Poonawalla Engineering Group, and Michelle Poonawalla, Managing Director of the Poonawalla Engineering Companies.
Prior to this, the startup raised funding from GI Ventures and BluSmart co-founder Anmol Jaggi.
What does trackNOW do?
Founded in 2016 by Pooja Khemka and Suyash Khemka, trackNOW leverages innovation and technology to deliver real-time tracking solutions for fleet management, mobility, and IoT.
The startup said its user-friendly app, available on Android and iOS platforms, offers graphical reports, AI-based driver behavior scoring, and advanced analytics to optimize turnaround times.
The platform serves diverse industries, including Coal, Oil and gas, FMCG, Cold Chain, Education, Agriculture, Construction, and Healthcare. It also provides Platform-as-a-Service (PaaS) for seamless ERP integration and highly customizable solutions.
Purpose of fundraising
The latest investment will enable the Gujarat-based startup to expand its R&D and boost operational efficiency.
"The investment from the Poonawalla Group is a significant endorsement of our vision and a testament to the hard work and dedication of our team. We are honoured to receive the support of such a respected group. This partnership will not only provide us with the capital required to scale operations but also invaluable mentorship and industry expertise," said Pooja S. Khemka.
Investors comment
“Investing in promising startups like trackNOW is not just about financial returns,” said Yohan Poonawalla, Chairman of Poonawalla Engineering Group. “It’s about mentoring and empowering young, visionary entrepreneurs by providing them with the resources and support needed to succeed. We believe in the transformative power of innovation and are committed to fostering an environment where groundbreaking ideas can flourish.”
Michelle Poonawalla, Managing Director of the Poonawalla Engineering Companies, added, “We are thrilled to partner with trackNOW and support their growth journey. This investment reflects our commitment to empowering Indian entrepreneurs. The partnership has the potential to unlock significant value for both trackNOW and the broader Indian economy by driving job creation, enhancing operational efficiencies across sectors, and strengthening India's position in the global logistics market.”