Spark Minda inks Technology License Agreement with LocoNav for its telematics solution for web and mobile apps | The Financial Express

Spark Minda inks Technology License Agreement with LocoNav for its telematics solution for web and mobile apps

As part of the alliance, LocoNav will be the technology partner for telematic systems to Spark Minda and shall provide with white-labelled software. LocoNav would also assist Spark Minda in software customisations and other support from time to time and provide mobile application user interface.

Spark Minda inks Technology License Agreement with LocoNav for its telematics solution for web and mobile apps
L-R: Akash Minda, Executive Director, Minda Corporation and Shridhar Gupta, Co-Founder, LocoNav.

Minda Corporation the flagship company of Spark Minda group has announced a Technology License Agreement (TLA) with LocoNav for white-labelling of telematics software for both web and Android/iOS platforms.

As per the understanding, Spark Minda will integrate LocoNav-developed software with its inhouse developed telematic devices to provide OEMs with a complete solution. This exclusive collaboration will enable Spark Minda to be ahead of technology curve with customised solutions to suit the needs of Indian OEMs.

As part of the alliance, LocoNav will be the technology partner for telematic systems to Spark Minda and shall provide with white-labelled software. LocoNav would also assist Spark Minda in software customisations and other support from time to time and provide mobile application user interface.

Aakash Minda, Executive Director – Minda Corporation said, “Connectivity of vehicles is one of the major trends in the automotive industry and a complete telematics solution lies at the heart of this mega trend. We at Spark Minda have taken a step forward to provide Indian OEMs with locally developed telematics solutions (using locally made hardware and software), which would ensure 24×7 connectivity of the vehicles. We believe the partnership with LocoNav will help us strengthen our existing relationship with the leading OEMs by integrating LocoNav’s proprietary telematics software into Spark Minda devices making us a complete mobility solution provider. This will also help us expand our product portfolio with existing customers and acquire new customers.”

Founded in 2015, LocoNav is an AI-driven full-stack technology company of Indian origin which provides its customers with telematics software, subscriptions and telematics devices including but not limited to global positioning system devices, dashcam devices and fuel sensor devices. The company holds expertise in integrated vehicle management with aim to make smooth fleet operations accessible to every business.

Shridhar Gupta, Co-Founder, LocoNav said, “We firmly believe that LocoNav software solutions and Spark Minda’s expertise in manufacturing Telematics devices will bring in significant synergies for both the companies, making us a preferred choice for integrated telematics services, especially suited for Indian markets. Spark Minda’s decades-long relationships with all the major OEMs and LocoNav’s deep software expertise, will help in quicker scale-up for the association. This partnership would be beneficial to all stakeholders in the Indian automotive industry”. 

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 22-11-2022 at 17:10 IST