[Funding alert] Location analytics startup Locale.ai raises Rs 9.6 Cr in seed round from Chiratae Ventures, Better Capital
Bengaluru-based location analytics startup, on Wednesday announced that it has raised $ 1.3 million(Rs 9.6 crores) in a seed round from Chiratae Ventures and Better Capital.
The round also saw participation from angels 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).
Rishabh Jain and Aditi Sinha started Locale.ai in March 2019 to help 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"
Their product ingests data across three verticals: user (demand), fleet (supply), order. They have 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 gaps 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 9 countries such as Europe, Latin America, MENA, India, Singapore and some of its notable 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 percent more productive by helping them swap batteries efficiently.
Karan Mohla, Partner, Chiratae Ventures commented, “We have witnessed the early impact of location-based automation on the transformation industries, especially in mobility. Led by Aditi and Rishabh, Locale’s vision is to build the next generation intelligent platform on top of proprietary data sets to create revenue enhancing actionables for their clients.
We are very excited with their approach focused on global enterprises in their focused verticals utilizing AI and intelligent geospatial analytics in an efficient and secured manner.”
Speaking about their future plans, Aditi adds, "We started with hyperlocal delivery and mobility companies but are now expanding into logistics and e-commerce companies as well. Next phase of the journey would involve scaling Locale across other industries and new markets such as 3PL and e-commerce companies and extending more functionalities on the product."