About Commutec
Commutec is a company based in Navi Mumbai (India) founded in 2016 by Maninder Kaur and Randeep Lobana.. Commutec has raised $199.55 thousand across 3 funding rounds from investors including Shell, Shell E4 and Shell. The company has 31 employees as of April 03, 2024. Commutec offers products and services including Managed Transport, Shuttle Services, SAAS Platform, Fleet Management, and Corporate Car Rentals. Commutec operates in a competitive market with competitors including MoveInSync, Routematic, Volercars, WhistleDrive and eee-Taxi, among others.
- Headquarter Navi Mumbai, India
- Employees 31 as on 03 Apr, 2024
- Founders Maninder Kaur, Randeep Lobana
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Aurafox Solutions Pvt. Ltd.
- Jurisdiction Raigarh, Maharashtra, India
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Annual Revenue
$649.44 K (USD)89.08as on Mar 31, 2022
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Net Profit
$66.26 K (USD)145.37as on Mar 31, 2022
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EBITDA
$84.89 K (USD)169.47as on Mar 31, 2022
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Total Equity Funding
$199.55 K (USD)
in 3 rounds
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Latest Funding Round
$109.85 K (USD), Seed
Jan 24, 2022
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Investors
Shell
& 11 more
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Employee Count
31
as on Apr 03, 2024
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Products & Services of Commutec
Commutec offers a comprehensive portfolio of products and services, including Managed Transport, Shuttle Services, SAAS Platform, Fleet Management, and Corporate Car Rentals. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
End-to-end solution for corporate transport including software and fleet.
Platform for managing office shuttle operations and employee commuting.
Digitizes transport operations to reduce manual workload and errors.
System for managing and tracking fleet transactions digitally.
On-call rental platform for corporate pick-up and drop services.
Funding Insights of Commutec
Commutec has successfully raised a total of $199.55K across 3 strategic funding rounds. The most recent funding activity was a Seed round of $109.85 thousand completed in January 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Seed — $109,846
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First Round
First Round
(25 Apr 2019)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Seed - Commutec | Valuation | Shell |
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| May, 2020 | Amount | Seed - Commutec | Valuation | Shell E4 , Shell |
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| Apr, 2019 | Amount | Angel Round - Commutec | Valuation | Prasad Menon , Sanjay Kapoor |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Commutec
Commutec has secured backing from 12 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Shell, Shell E4 and Shell. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Energy sectors are targeted by Shell-backed accelerator program.
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Founded Year | Domain | Location | |
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Shell is recognized as a global energy and petrochemical company.
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Founded Year | Domain | Location | |
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Crude products are supplied to global energy markets.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Commutec
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Commutec
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Commutec Comparisons
Competitors of Commutec
Commutec operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MoveInSync, Routematic, Volercars, WhistleDrive and eee-Taxi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Employee transportation management solutions are provided for automated commutes.
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| domain | founded_year | HQ Location |
Provider of employee transportation management platform with fleet and technology solutions
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| domain | founded_year | HQ Location |
Self-drive cars are rented online via a booking platform.
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| domain | founded_year | HQ Location |
Transportation and fleet management are facilitated via an online platform.
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| domain | founded_year | HQ Location |
Tech-enabled platform offering electric vehicle ride-hailing management solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Commutec
When was Commutec founded?
Commutec was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is Commutec located?
Commutec is headquartered in Navi Mumbai, India. It is registered at Navi Mumbai, Maharashtra, India.
Who is the current CEO of Commutec?
Randeep Lobana is the current CEO of Commutec. They have also founded this company.
Is Commutec a funded company?
Commutec is a funded company, having raised a total of $199.55K across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $71.3K, raised on Apr 25, 2019.
How many employees does Commutec have?
As of Apr 03, 2024, the latest employee count at Commutec is 31.
What is the annual revenue of Commutec?
Annual revenue of Commutec is $649.44K as on Mar 31, 2022.
What does Commutec do?
Commutec was founded in 2016 and is based in Navi Mumbai, India. SaaS solutions for employee transport management are developed, focusing on the logistics sector. Vehicle capacity is optimized through algorithms, real-time GPS tracking is implemented, and SMS notifications are sent for updates. Route planning, shift rostering, vendor assignment, digital trip documentation, automated invoicing, emergency alerts, and management reporting are supported in operations.
Who are the top competitors of Commutec?
Commutec's top competitors include MoveInSync, Routematic and Volercars.
What products or services does Commutec offer?
Commutec offers Managed Transport, Shuttle Services, SAAS Platform, Fleet Management, and Corporate Car Rentals.
Who are Commutec's investors?
What is Commutec's valuation?
The valuation of Commutec is $4.82M as of Jan 2022.