Vahanalytics, a tech-driven start-up aimed at making Indian roads safer and better has raised $200,000 through Venture Catalysts (VCats), India’s seed investment and innovation platform. The investment was led by Vikram Lakhotia and Anirudh Damani of VCats.
With driver less smart cars increasingly being explored as a viable medium to improve the on-road transportation efficiency by tech giants around the world, the investment into Vahanalytics is aimed at addressing a global problem on a local scale.
Speaking on the investment, Apoorv Ranjan Sharma, Co-founder, Venture Catalysts, said: “Data analytics in transportation using telematics is the need of the hour. The space is extremely exciting and opens the door for almost limitless possibilities for implementation.”
Explaining the concept behind the development of the product, Shivalik Sen, co-founder, Vahanalytics, said: “We started out as an on-demand driver service and built a driving analytics module to help track and train our drivers. While doing so, we realised that there was a distinct lack of a similar scientific metric to quantify and judge driving behaviour as well as to identify and train drivers in areas which require improvement. Seeing how this tool could have a number of use-cases across industries such as transportation, logistics and insurance, we spoke to several businesses.”
Launched in 2016 by Shivalik Sen, Arun Gandhi, Nikhil Tavora and Someshwar Dash, Vahanalytics aims to make drivers and roads better through smarter data and machine learning. The platform captures real-time data about driving habits and road conditions using smart phones, which is then processed and refined by leveraging the power of Big Data in order to extract useful insights. Earlier this month, the founders sold their brand “Driven” to Drivers Kart in order to focus fully on Vahanalytics.
Vikram Lakhotia, Managing Director, Standard Transport Corporation, said: “Having been associated with the logistics industry, I see how such a development can bring in major disruption in several market segments. Vahanalytics’ solutions address a major industry pain point by improving both fuel efficiency and road condition monitoring through smart technology and data analytics.”
Source: Business-Standard