JLL India Invests In NCR-Based Startup Cloud1 Enterprises
NEW DELHI: Property consultant JLL India's arm has invested an undisclosed amount in the NCR-based Cloud1 Enterprises, a technology platform for bringing efficiency in employee transportation.
In October last year, JLL India had launched a real estate technology investment vertical and made first investment into Foyr.Com.
This structured vertical makes proprietary investments into early-stage technology companies with the potential to disrupt the real estate business.
JLL India today announced its investment in Cloud1 Enterprises, which it said is "an end-to-end cloud based platform that enables corporates to deploy telematics technologies to bring efficiency to employee transportation."
"Estimated at USD 2 billion in India alone, the employee transportation sector is currently highly fragmented, inefficient and opaque. The potential for further optimisation of company transportation costs via data analytics and telematics is phenomenal," said Anuj Nangpal, Head - India Real Estate Technology Ventures, JLL India.
Stating that functionalities like mapping and routing have become basic features in this industry globally, he said Cloud1 will focus on data integration with traditional fleet management systems to convert telematics insights into fleet productivity.
"Cloud1's business model is not predicated on a high customer acquisition cost and corresponding burn rates as a result of deep discounting. Proprietary algorithms allow intelligent utilisation of vehicles and real-time trip monitoring, which enables Cloud1 to squeeze ultimate efficiency out of the value chain and offer employers a dedicated trip based model," JLL India said in a statement.