MobiApps Plans Big
MobiApps, a leading provider of products and platforms for tracking, monitoring and managing industrial equipment and assets recently closed a $10 million Series B investment. UOB Venture Management, and other new investors including Intel Capital led the financing round.
In an exclusive conversation, Sanjay Chakrabarty, CEO, MobiApps Holdings, told CXOtoday that the Series B investment would enable the company to substantially increase its revenues in the year ahead.
“We have attained a market leadership in telematics and developed a series of products and building blocks for advanced multi-mode communications in this space. Hence the series B investment will accelerate our global sales and marketing, new product launches, and next generation product development,” he said.
“MobiApps products and platforms are getting increasing customer acceptance for tracking, monitoring and managing industrial equipment and assets, especially in the Machine-2-Machine space, utilizing advanced wireless and satellite communications technologies,” he informed.
Chakrabarty felt that deploying wireless technologies to the transportation and logistics segments involves not only navigation, but also integration of mobile devices, which can increase the accuracy and utility of traditional vehicle management applications.
By integrating GSM, GPRS, CDMA or non-terrestrial networks, MobiApps developed a cutting-edge fleet management system for commercial and industrial fleets to securely track and monitor mobile assets anywhere.
Talking about the company’s latest products in wireless communications, Chakrabarty said, “m-Trak is a mobile vehicle tracking system which helps track, manage, access and monitor trucks or other mobile assets. It integrates GPS technology and wireless communications providing companies with location-relevant and time-sensitive information of their mobile resources.”
Positive about the new Series B investment, Chakrabarty has a lot of plans for the Indian market. With its development centers in Bangalore and Singapore, the company is all set to expand its market operations in North America, Middle East and South East Asia.
“We are focusing on the rapidly growing domestic telematics markets and Intel’s investment strategy in Asia is surely a step up. MobiApps is on the brink of launching its advanced satellite transceiver products for marine telematics platform and also its next generation commercial fleet telematics products in the Asia-Pacific region in 2006,” he concluded.
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