Indian fleet tech company LocoNav has launched in South Africa with a combined product offering of dashcams + AI-enabled video telematics starting at R8999 for a 3 year period. South Africa is one of the first markets where this offer has been announced.
Over 250m commercial vehicle owners and drivers in emerging markets don’t have easy access to the technology and solutions they need to run their vehicles efficiently and save running costs, the company says, due to the high cost of modern technology solutions.
“LocoNav’s vision is to democratise access to fleet technology for all commercial vehicles in emerging markets and with our entry in South Africa we aim to provide cost-effective yet state of the art fleet tech solutions to fleet owners and drivers,” says LocoNav co-founder Shridhar Gupta. “We believe that with our experience in over 30 countries we will be able to add value to the commercial vehicle sector by making them safer, more efficient, and more empowered.”
Over the last few years, South Africa has had an average of 14,000 deaths every year due to road accidents. This number is amongst the highest in the world. While the emotional and mental impact of these tragedies is immeasurable, the economic cost of these preventable deaths is estimated at R147 billion.
In its mission to help bring tech-driven change where the impact is greatest, LocoNav is launching its Dashcam+Advanced Video Telematics+Data solution locally, at a price that is almost 30-40% lower than existing solutions, making it accessible to the average South African fleet owner and operator.
Dashcams and video telematics are an essential, and increasingly critical, part of fleet management. Yet they have traditionally been out of reach of the average fleet owner / operator in the emerging world due to the prohibitive cost of devices, software and data. LocoNav is determined to change that.
LocoNav’s combo features AI-backed tech that encourages better driving behaviour and driver alertness along with the ability to prevent accidents and save lives. This helps fleet owners improve business efficiency by offering data-backed evidence that mitigates liability risks of insurance claims occurring from adverse incidents.
LocoNav’s Advanced Driver Assistance System (ADAS) uses AI powered sensors to warn the driver in real-time of any possible forward collision or lane drifting. The system also offers:
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Live video streaming through a dual-channel dashboard camera that faces both the driver and the road.
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Smart alerts that give the fleet operator immediate notification of dangerous events like harsh braking, speeding, distracted driving or sharp vehicle turning. Fleet owners can then use this footage to coach drivers toward better driving behaviour and enhance overall fleet safety.
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Incident videos are available for a significant period on the LocoNav platform for use in case of evidence for any liability claims in case of adverse incidents.
With its expansion into South Africa, LocoNav aims to bring tens of thousands of commercial vehicles on board in the first year of operation with its advanced yet affordable technology solutions.
The company recently raised $37 million in a Series B funding round, which it is using to fund its expansion to over 100 countries in the emerging world. This funding round was led by Quiet Capital, Anthemis Group, Sequoia Capital India, Foundamental, RIT Capital Partners and other leading investors. LocoNav had previously raised $10 million, taking the total to ~$47Mn.
Concludes Vidit Jain, Co-Founder LocoNav: “LocoNav brings its unique approach to South Africa where we keep the commercial vehicle as the atom of all things, and address the rising issue of road accidents by serving all parts of the fleet management ecosystem. It gives us immense pleasure to begin operations in South Africa and we hope to maximise partnerships with fleet owners, operators and the larger fleet management ecosystem to help them become more technologically advanced and cost efficient in an accessible manner.”
