Delhi-based GPS tracking startup Roadcast has raised USD 250,000 in angel round. The round saw funding from HNIs from UAE.
The funds will be used in expanding its operations across major cities in India, research and development, product structuring, PR and advertising operations.
” As a technology company, we have tried to create a venture by building various solutions around the same tech rather than just creating a product. This has given our product offering high scalability, while not compromising on being adaptive to individual client’s needs and customizing our services accordingly. This aspect of Roadcast’s on-road asset management solutions, combined with our unrelenting focus on innovation, has contributed to a successful angel funding round,” said Rahul Mehra, co-founder, Roadcast.
The company was founded in 2015 and is focusing to expand its operations in states such as Punjab, Rajasthan, Madhya Pradesh, Maharastra, Uttar Pradesh and Gujarat.
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” We aim to primarily allocate the funds to further strengthen our research efforts, as tech development in the sphere of an on-field asset management platform requires a significant amount of capital. Furthermore, expanding into various cities requires initial setup investment, which will also feature extensively in our fund allocation strategy,” said Vishal Jain, co-founder, Roadcast.
The company offers tracking services, geo-fencing, fleet management, supply chain management solutions by optimising resource management.moneycontrol