JLL India invests in NCR-based startup Cloud1 EnterprisesPress Trust of India
Property consultant JLL India's arm has invested an undisclosed amount in the NCR-based Cloud1 Enterprises, a technology platform for bringing efficiency in employee transportation.
In October last year, JLL India had launched a real estate technology investment vertical and made first investment into Foyr.com. This structured vertical makes proprietary investments into early-stage technology companies with the potential to disrupt the real estate business. JLL India today announced its investment in Cloud1 Enterprises, which it said is
an end-to-end cloud based platform that enables corporates to deploy telematics technologies to bring efficiency to employee transportation.
Anuj Nangpal, Head - India Real Estate Technology Ventures, JLL India said,
Estimated at $2 billion in India alone, the employee transportation sector is currently highly fragmented, inefficient and opaque. The potential for further optimisation of company transportation costs via data analytics and telematics is phenomenal.
Stating that functionalities like mapping and routing have become basic features in this industry globally, he said Cloud1 will focus on data integration with traditional fleet management systems to convert telematics insights into fleet productivity.
As opposed to current pure software platforms, Cloud1’s solution directly integrates vehicles with Cloud 1’s 24 x 7 Command Center, which actively monitors exception alerts on each trip and captures all critical data points - including driver authentication, vehicle compliance, safety and security alerts and route deviation. Thus, the solution creates a completely secure, transparent and efficient employee transportation service offering and eliminates the need for clients to have ‘dedicated in-house’ call centers. Cloud1 will partner with its clients to offer analytics about data generated on its telematics platform to drive further efficiencies.
“Inefficiencies in the existing system add up surprisingly quickly," says Sumir Anand.
The strategy is not to disintermediate but to share technology lead savings with all stakeholders - including drivers, vendors, corporates and employees. We are currently focussed on capturing key employee clusters in the NCR market, and will use a part of these funds to explore expansion into new key cities. The strategic alliance with JLL will provide us deep access to the decision-makers in the industry. The synergy is obvious.
The platform has been received with enthusiasm by the industry, with many corporates and MNCs signing up for pilots within a couple of months of the launch. This is JLL’s second investment in the real estate technology space after its investment into Foyr.com in October 2016.