LocoNav, a full-stack fleet-tech startup, today rolled out a combo offering of AI-enabled Advanced Video Telematics and DashCam. Available for over 250 million commercial vehicles, the combo is available at affordable prices which the startup states are up to 30-40% less than prevailing market prices. With this combo, LocoNav aims to bring about a radical change in emerging markets where no more than 30% of the 250 million commercial vehicles use any form of fleet management tech.
With limited or no access to affordable and efficient technology, fleet owners and drivers resort to using rudimentary technology leading to business losses and road accidents endangering driver lives.
As per the Ministry of Road Transport and Highways, Indian roads witness 415 deaths per day in accidents, the highest in the world. About 1.5 lakh people are being killed in road accidents and 3.5 lakh are crippled annually. LocoNav aims to improve safety on roads through the use of its AI-enabled video telematics coupled with a range of dash cams.
The startup states that its video telematics has the capability to prevent accidents and bring efficiency to fleet management businesses by offering data-backed evidence in light of any insurance claims occurring from adverse incidents while the commercial vehicle is on the road. It also encourages better driving behaviour and alertness.
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. This system also offers live video streaming through a dual-channel dashboard camera that faces both the driver and the road.
Smart alerts give the fleet operator immediate notification of dangerous events like harsh braking, speeding, distracted driving or sharp vehicle turning. Fleet operators and owners can then use this real-world footage to coach drivers toward better driving behaviour and enhance overall fleet safety. What’s more, incident videos are also available for a significant period on the LocoNav platform for use in case of evidence for any liability claims in case of adverse incidents.
By leveraging the power of IoT and AI, we centre all our efforts around this atom so that we can give the world a global, scalable, and disruptive solution that will have an incremental positive impact on the lives and livelihoods of everyone in the industry. This has been our driving force since we started operations. Today, we serve over 5 million vehicles worldwide with LocoNav’s products and services, Shridhar Gupta and Vidit Jain, Co-Founders, LocoNav, said.
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