Startup trackNOW Gets Strategic Investment From Poonawalla Group
The fleet management company trackNOW has received an undisclosed investment from the Poonawalla Group. The new investment would allow trackNOW to expand its operations and have "access to invaluable mentorship and industry expertise," according to a statement from the Poonawalla Group. TrackNOW, which was founded in 2016 by Pooja and Suyash Khemka, provides logistics platforms and merchants with fleet management and tracking solutions.
TrackNOW's real-time monitoring solutions provide insight into the location, status, and condition of their clients' assets by using technologies including cloud computing, GPS, and the Internet of Things (IoT). The Poonawalla Group's investment, according to trackNOW cofounders, is a major affirmation of the company's concept and a credit to the diligence and commitment of its whole staff.
It is an honour for the brand to have such a well-known and esteemed group support it. In addition to giving trackNOW the funding it needs to expand, this relationship will give the business access to priceless industry knowledge and coaching.
Poonawalla Group Expanding its Portfolio
According to the Poonawalla Group, it plans to increase the size of its holdings and make large investments in additional "notable and high-potential ventures" soon. It intends to concentrate on supporting businesses in a variety of industries and provide them with networking opportunities, industry knowledge, and mentorship.
Regarding the investment in trackNOW, Yohan Poonawalla, chairman of the Poonawalla Group, stated that financial returns are not the only consideration when making an investment in potential startups like trackNOW. It's about inspiring and mentoring young, creative businesspeople and giving them the tools and assistance they require to be successful.
The team is dedicated to creating an atmosphere where ground-breaking ideas can thrive because they believe in the transformational potential of innovation. The statement was made in the midst of several changes in the Indian logistics industry. CriticaLog India Private Limited, a transportation and logistics firm, was acquired by Shadowfax earlier in the day.
Investors Betting High on Indian Logistic Startups
Evolvence India and Mirabilis Investment Trust led the INR 100 Cr Series C investment round that supply chain and storage startup Emiza concluded on January 27. The AI logistics platform Netradyne secured $90 million in its Series D round last week, backed by its current investor, Point72 Private Investments, making it the first Indian unicorn of 2025.
In general, there is still a solid level of investor interest in the Indian startup scene. A media outlet said that domestic new-age tech firms raised over $12 billion in 2024, a 20% increase from $10 billion in 2023. Last year, the nation's startup scene also produced six new unicorns.
Nitin Konde
