You are here: Home » Companies » Start-ups » News
Business Standard

Exploride raises over $5,00,000 in pre-orders for navigation device

Company looking to add more features, raise $10 mn in venture capital fund

George Joseph  |  Mumbai 

Exploride

Exploride, a startup that has developed a hands-free display device for cars, has raised more than half a million US dollars in pre-orders within 40 days of the device's international launch.

The Kochi-based company has already received more than 1,800 pre-orders from around 50 countries for the product that provides hands-free access to maps, calls, texts, notifications, music and onboard diagnostics of a car.

"Raising a whopping $512,718 in 40 days for a startup is a feat achieved by no other company in India," said Sunil Vallath, Founder and CEO of the company.

Vallath said the company is working on adding more safety and other features in the gadget. It is also planning to expand its workforce and raise $10 million venture capital fund.

The small, portable product sits on the dashboard and provides advice. Vallath says the utility-packed device has GPS, LTE (a 4G mobile communications standard ten times faster than 3G), Google maps and voice activated that direct and guide the driver.

One can take phone calls or decline them, raise or lower the volume and cancel the noise with simple hand gestures. Not only that, the device shows speed, tyre pressure, fuel and other engine stats, says Vallath.

Further, apps like Apple Music, Twitter and Facebook are inbuilt in the device that provide and information about the weather. Besides, the dash-cam records the street video while driving which can be helpful in claiming insurance.

Sanjay Vijayakumar. Chairman, Kochi start up village said that this is the fourth successful global crowdfunding campaign, a phenomenon that is now recognised and taught at IIM-Ahmedabad as a case study.

The product has featured in magazines like Tech in Asia, Automoblog, Carscooops, CNET and Digital Trends.

ALSO READ: Exploride races past $100,000 crowdfunding target in 5 days

First Published: Thu, October 08 2015. 12:10 IST
RECOMMENDED FOR YOU