Bengaluru-headquartered MoveInSync Technology Solutions, an office commute automation platform, has raised $8 million Series-B round of funding led by Nexus Venture Partners with participation from existing investors Inventus Capital Partners, Saama Capital and Qualcomm Ventures.
The company will use the funding to further develop the end-to-end transport offerings, accelerate customer acquisition and launch international markets.
MoveInSync’s platform uses patented algorithms to ensure optimum vehicle utilisation and employee commute time. It also includes automatic vehicle tracking during office commute from pick-up to drop point and a centralised command centre to address growing concern for safety of employees, especially women.
MoveInSync’s platform enables enterprises to manage their significant spend on transport vendor invoices. The company has over 50 customers including Google, Microsoft, Amazon, Adobe, Wipro among others.
MoveInSync was founded in 2009 by Deepesh Agarwal and Akash Maheshwari. The company has created the market of employee transportation automation, and previously raised a Series-A round from Inventus Capital Partners, Qualcomm Ventures and Saama Capital.
It claims to have seen 100 percent year-on-year growth for four years covering 350 million km across 16 million trips spread across 173 office locations in India in the last year.
Speaking on the funding, Deepesh Agarwal, Co-founder and CEO said, “We created a ‘made in India’ solution to address the market need, and are now excited with the opportunity to increase our customer base and take this solution to international markets. This investment further validates the company's vision of using technology to bring efficiency and predictability in the transportation market. We are very excited at impact of our platform with our customers seeing more than 20-percent cost reduction within six months of implementation of our system. By leveraging MoveInSync's transport automation solution, companies also see increased employee satisfaction and are able to address employee safety.”
Anup Gupta, Managing Director Nexus Venture Partners, said, “We are impressed by MoveinSync’s platform and its significant impact on the customers and their employees. Office commute offers huge potential for innovation by leveraging technology to significantly improve efficiency and employee experience. We are very excited to partner with Deepesh, Akash and the MoveInSync team in the next phase of their journey of creating a market leading platform.”
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