trackNOW secures extended seed fund from Poonawalla Group

The Gujarat-based fleet management and advanced telematic tracking solution company trackNOW has recently raised an extended seed fund of an undisclosed amount.

The funding round was led by Yohan Poonawalla, Chairman of the Poonawalla Engineering Group, and Michelle Poonawalla, Managing Director of the Poonawalla Engineering Companies. The company had previously secured seed funding in FY24, led by GI Ventures and BluSmart co-founder Anmol Jaggi, which led the company to accelerate its business growth plans.

The latest investment from the Poonawalla Group will enable trackNOW to expand its R&D and boost operational efficiency.

Founded in 2016 by Pooja Khemka and Suyash Khemka, trackNOW provides solutions to streamline fleet management and tracking processes. Known for its focus on minimizing turnaround times and reducing operational costs across various industries, trackNOW has garnered immense recognition for its intelligent, technology-driven innovations.

“Investing in promising startups like trackNOW is not just about financial returns,” said Yohan Poonawalla, Chairman of Poonawalla Engineering Group. “It’s about mentoring and empowering young, visionary entrepreneurs by providing them with the resources and support needed to succeed. We believe in the transformative power of innovation and are committed to fostering an environment where groundbreaking ideas can flourish.”

Michelle Poonawalla, Managing Director of the Poonawalla Engineering Companies, added, “We are thrilled to partner with trackNOW and support their growth journey. This investment reflects our commitment to empowering Indian entrepreneurs. The partnership has the potential to unlock significant value for both trackNOW and the broader Indian economy by driving job creation, enhancing operational efficiencies across sectors, and strengthening India's position in the global logistics market.”

Commenting on the investment, Pooja S. Khemka, Co-founder, trackNOW said, “The investment from the Poonawalla Group is a significant endorsement of our vision and a testament to the hard work and dedication of our team. We are honored to receive the support of such a respected group. This partnership will not only provide us with the capital required to scale operations but also invaluable mentorship and industry expertise.”

trackNOW leverages innovation and technology to deliver real-time tracking solutions for fleet management, mobility, and IoT. Its user-friendly app, available on Android and iOS platforms, offers graphical reports, AI-based driver behaviour scoring, and advanced analytics to optimize turnaround times. The platform serves diverse industries, including Coal, Oil & Gas, FMCG, Cold Chain, Education, Agriculture, Construction, and Healthcare. Additionally, trackNOW provides Platform-as-a-Service (PaaS) for seamless ERP integration and highly customizable solutions.