Vehicle management startup LocoNav raises $3.42 million

Delhi-based vehicle management startup LocoNav has raised $3.42 million in Series A funding round from Sequoia Capital India and angel investor Prateek Sharma, according to filings. While Sequoia invested $3.41 million, Sharma put over $10,000. Founded in 2015, LocoNav aims to lower running costs of vehicles and provides smart alerts to update vehicle owners in case of exigency.