Location analytics startup Locale.ai on Thursday said it has raised $1.3 million ( ₹9.6 crores) in a seed round from Chiratae Ventures and Better Capital.
The round also saw participation from angel investors such as Manik Gupta (ex-CPO, Uber), Sidu Ponnapa (SVP, Engineering, Go-Jek), Kuldeep Dhankar (ex- SVP, Enterprise Sales, Clevertap), Khadim Batti (CEO, Whatfix), Krish Subramanian (CEO, Chargebee), Vivekananda HR (CEO, Bounce), Kaushik Subramanian (Product, Stripe), Praveen Jadav (ex-CEO, Paytm Money).
Founded in March 2019 by Aditi Sinha and Rishabh Jain, Locale helps companies with moving assets (goods, delivery partners, sales partners, vehicles, etc.), increase revenues, and get more sustainable demand using real time location data and analytics.
Aditi Sinha, co-founder, Locale.ai said,”We took inspiration from Uber and Amazon who became billion dollar businesses by making location and demand-supply related decisions at its core. Locale’s aim is to help every company with moving users (demand) / fleet (supply) provide the same level of tools and infrastructure and attain operational excellence”
Locale.ai’s product ingests data across three verticals: user (demand), fleet (supply), and order. Platforms have in-built modules and analyses that help companies find problematic or growth areas and take action on them. In those areas, depending on the industry or business model, companies can use demand and supply behaviour to plan capacity, bridge supply-demand gap or change pricing or SLAs.
“If growth teams use Mixpanel or Amplitude to create cohorts and do A/B testing on websites and web apps, they should also have a product that allows them to experiment on their operational decisions and measure their impact. Locale is built for sophisticated teams who care about experimentation, feedback, and moving fast to improve their operational metrics”, added Rishabh Jain, co-founder, Locale.ai.
Locale currently works with companies in nine countries across Europe, Latin America, MENA, and India and Singapore. Its clients include Bounce (India), Dunzo (India), Zwings (UK), OMNi (Costa Rica) and has successfully partnered with Wunder Mobility (Germany) as well. The startup claims to impact Omni’s topline by helping them improve their order volumes and helped Zwings workforce to be 50% more productive by helping them swap batteries efficiently.
Source: Mint