Rishabh Jain and Aditi Sinha started Locale.ai to help every company with moving assets (goods, delivery partners, sales partners, vehicles, etc) increase revenues and get more sustainable demand using real-time location data & analytics.
The startup today announced that it has raised an undisclosed round of funding led by Better Capital with participation from notable angels such as Myntra & Nudgespot co-founder Raveen Sastry and Fusion Charts co-founder Pallav Nadhani in a pre-seed round.
Since the COVID outbreak, online delivery has been powering the world and location analytics has become the need of the hour for last-mile delivery. They have seen a huge spike in demand from food, grocery, medicine delivery companies who want to reach their customers as soon as possible and get to 100% booking fulfillment.
Their product helps businesses maximize the number of high-value customers, increase frequency as well as their repeatability, thereby improving the topline.
“We help companies decrease their customer acquisition cost by expanding in areas based on latent demand, reduce user churn by providing better SLAs in locations where they drop-off and increase existing customer revenue by doing geo-targeting based on users they move and where they order from” says Aditi Sinha, co-founder of Locale.ai and an alumnus of BITS Pilani.
In a world where user acquisition and retention on the web is focused on creating user cohorts and targeting them differently, Locale’s aim is to help these companies that have operations in a real-world incorporate the “location” element and go super targeted and granular in their strategies.
They have established partnerships with data vendors to help companies overlay granular external data such as mobility patterns in a city, traffic, weather on top of their internal data to get more robust insights.
“Location is at the core of the strategies that companies use to capture demand and Locale is the fastest way for any company to convert location data into easily searchable intelligence and the right insights”, said Vaibhav Domkundwar of Better Capital, a seed fund with early bets in category-defining businesses like Open, Khatabook, Bijak, Yulu & others.
Locale was founded in 2019 and is already working with mobility and delivery companies in the US, France, Argentina and India. The funding will be utilized to scale and expand globally, primarily in the US.
Today, they are ingesting around 1 million location events per day and claim to increase the user conversion percentage by 3x & asset utilization rate by 35% using granular and targeted geo-promotions and provisioning supply in the right locations. They also have made the integrations really simple so that companies can get up and running in a span of a couple of hours.