Roadcast, a GPS based social platform that lets you create and share journeys with your friends and family in real-time raises $250000 in an angel funding round.
The funding will use to expand the operations across major cities in India, with a prime focus on states like Punjab, Rajasthan, MP, Maharashtra, Uttar Pradesh and Gujarat.
Also, some part of the funding will help to boost the organization’s R&D, product structuring, PR and advertising operations, while also helping it to grow in terms of members as well as infrastructure.
The company technology tracks the remote vehicle, geo-fencing to auto-cutting ignition or petrol supply.
Roadcast’s solutions enable businesses with constantly moving on-field resources, such as sales force, delivery vehicles to develop the most productive supply chain management solutions by optimizing resource movement, thus cutting down on costs and increasing ROI significantly.
Roadcast also tie-up with Delhi Police to manage the entire police fleet movement and equip the force’s vehicles with the latest communication and tracking devices.
Rahul Mehra, Co-founder Roadcast said,
“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 customising 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,”.
Roadcast co-founder Vishal Jain added,
“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,”.