Cautio, a startup in the visual telematics space, today announced a pre-seed raise of INR 6.5 cr led by Antler, 8i and AU Bank. The funding, a mix of equity and debt, was led by Antler, 8i Ventures, and AU Small Finance Bank; with additional participation from Cautio's early believing customers and prominent angel investors.
Founded by Ankit Acharya, former senior executive - Namma Yatri, Bounce & Bounce Infinity and Pranjal Nadhani, former senior engineer - Virtualness, Dream11 & Urban Company; Cautio is dedicated to addressing safety concerns within India's mobility and transportation space. Offering cost-effective video telematics products, Cautio delivers tailored solutions aimed at mitigating safety issues prevalent in India. Through customizable dash cam devices and an AI-powered operating system, Cautio ensures accountability, improves driver conduct, minimises revenue loss, and adopts an API-first strategy.
Ankit Acharya - Co-founder & CEO, Cautio said - "Telematics in India has rapidly advanced from GPS, Bluetooth, and portable navigation to embedded connectivity. Initially focused on passive road safety measures, the emphasis is now shifting towards active real-time responsiveness due to high accident rates. India, ranking first in global road fatalities, recorded 1,68,491 deaths in 2022, with overspeeding responsible for 70% of these fatalities, along with approximately 4.4 lakh injuries. Video telematics and dash cams, driven by demand from the commercial vehicle sector, will be crucial in eliminating hearsay and enhancing road safety."
Pranjal Nadhani - Co-founder & CTO, Cautio added: "With the support of our friends at Antler, 8i and AU, we are primed to escalate our efforts in deploying cutting-edge safety solutions across the country."
Focusing on India's passenger commercial sector, the startup counts among its clients prestigious institutions, mobility and logistic companies etc. It is also actively involved in multiple pilot projects across the country.
Commenting on the round, Nitin Sharma, Partner at Antler said - "As investors, we are excited to back founders like Ankit and Pranjal. Their ability to integrate cutting-edge technology into accessible and cost-effective solutions positions them uniquely to redefine road safety. During the Antler Residency, the team's customer obsession and their exceptional adaptability stood out to us. The Cautio model is not just about capturing telematics data but transforming it into actionable insights to enhance driver behaviour, increase safety, and pave the way for autonomous vehicles."
"With Cautio, as Ankit and Pranjal are solving a pressing problem that affects vehicle owners & drivers. From our first meeting, we were struck by the founders' clear insight. Cautio's solution should lead to a mass adoption of video telematics - bringing in safety and accountability on our roads." - added Vishwanath V, General Partner at 8i Ventures.
Ranjan Agarawal, EVP and National Business Manager at AU Small Finance Bank added: "AU Bank is excited to support Ankit, Pranjal and Cautio in their journey. By supporting Cautio, we are investing in our belief of a future where technology seamlessly enhances safety and efficiency for all in every sector whether it be banking or mobility. The impressive lineup of clients and ongoing pilots nationwide are just the beginning of what Cautio is poised to achieve. We believe that with such dynamic leadership at the helm, Cautio will redefine the standards of excellence in this sector."
As India progresses towards implementing active surveillance in mass transportation, states such as Uttar Pradesh, Kerala, Karnataka, and others are endorsing the necessity for in-vehicle monitoring, showcasing a collective dedication to fostering a safer transport environment. The increasing adoption of dash-cams in Bengaluru, encouraged by law enforcement urging citizens to install these devices, underscores the crucial role of technology in augmenting road safety measures.
Cautio's unwavering dedication to safety has attracted widespread interest from cab, auto and fleet owners and drivers. The enthusiastic support from operators highlights the critical need for proactive safety measures within our transportation networks. |
