Bangalore-based MoveInSync raises Series A funding
Bangalore-based MoveInSync Technology Solutions, the market leader in enterprise transport automation solutions, today announced that it has raised a little above $2 million in its Series A funding from Inventus Capital Partners, Saama Capital and Qualcomm Ventures. The funds will be used for expansion of the existing business lines.
Deepesh Agrawal,Co-Founder and CEO of MoveInSync Technology Solutions comments,
Investment by Inventus Capital Partners, Saama Capital and Qualcomm Ventures is a vote of confidence in our vision and continued traction that we are witnessing in the market. By leveraging on MoveInSync's transport automation solution companies see increased employee satisfaction, lower costs and are able to address employee safety related issues. Companies witness efficiency improvement of between 15-20% within 6 months of implementation of our system.
The three co-founders Akash, Anuvrata and Deepesh are batchmates from IIT-BHU and worked with Microsoft, Amazon and Motorola before starting MoveInSync. MoveInSync was the first company to be incubated at ISB Hyderabad in 2009 and is now a 45 member team based in Bangalore. The company’s present offering ETS (Employee Transportation Solution) is an end-to-end solution which caters to all stakeholders in the transportation ecosystem i.e. employees, drivers, transport team and cab vendors. The product helps automate all aspects of transportation and makes it paperless! The solution also has a separate analytics section which helps clients effectively monitor their spend. The solution is used by over 30,000 employees, 3500 cabs across 9 cities by several fortune 500 companies.
“MoveInSync has changed the way Indian enterprise look at employee transportation. By combining the mobile platform with a robust cloud based offering, MoveInSync solves a core problem. The use technology makes the transportation ecosystem fair for all” says Anuvrata.
MoveInSync sees an enormous market for their solution and the current round of funding validates the company's vision of using technology to bring efficiency and predictability in the transportation market. All three investors Inventus, Samaa and Qulacomm have a great track records in helping to build significant companies and MoveInSync is now eyeing to take the company to the next level with their support.