Cubito seed funded by Sol Primero for $160K. Cubito is transport software owned and operated by Bengaluru based Neocube Technology Solutions P Ltd. Cubito is technology enabler and aims to automate transportation logistics segment for organizations.
Neocube Technology has developed a product called ETAT (Employee Transportation Automation Tool) that focuses on employee transportation. The product is in house development. ETAT focuses on wide variety of logistical challenges that a company face every day on employee transportation.
Cubito also focus on e-commerce and third party logistics space where last mile connectivity is paramount importance. Truck route planning and delivery optimization play a vital role with the help of Cubito.
On employee transportation front Cubito compiles all information about employee; geo codes the data and allocates the fleet. The platform avoids unnecessary paperwork and saves time. The software provides features such as proximity alerts, real time tracking and ad hoc requests. At the same time, with the help of ETAT the administrator will be in position to track the vehicles and in a position to have more inputs on the vehicle like speed maintenance, off routing if any, whereabouts of the vehicle. Invoice generation has been automated to avoid confusion at later stage.
Apart from on safety aspect Cubito will provide distress signalling, monitors device tampering and call masking can be done.
If a company has staff strength of 1000 employees and they are using Cubito solutions. They will able to saved Rs 3,168,000 and almost 198, 000 calls can be avoided with 160 Kgs of Carbon Emission reduction. On a whole 7,040 trips can be reduced in a year.
The company was incubated by Kyron Global Accelerator and founded by Yash Patodia and Pranay Agarwal. Yash Patodia is co founder of Cubito. He has done graduation in Bachelor of Engineering in Mechanical Engineering from Birla Institute of Technology and Science (BITS Pilani). During college days he was an intern in Oracle Financial Services Software Ltd in 2012. He became deputy placement co coordinator for Placement Unit, BITS Pilani for 10 months and in 2013 he joined as Business Intelligence Consultant in Thorogood Associates. He worked for a year, by then he founded Cubito.
Another co founder of Cubito is Pranay Agrawal. Like Yash, he too has graduated in Bachelor of Engineering in Chemical Engineering from Birla Institute of Technology and Science (BITS Pilani) in 2013. During 2009 he was core member of Quark 2011 for 21 months Quark 2012 for 11 months and later became Public Relations Manager for Department of Publicity and Public Relations of BITS Pilani for 10 months. In Oct 2010, he became Manager to Google Technology User group which he held for 13 months. In 2011 he joined Steel Authority of India Ltd (SAIL) as summer intern.
The company has received 3 rounds of venture funding till now. Twice in 2013 which the amount is undisclosed till now by the company. However they received their seed funding of $160K from Presha Paragash who is repeat investor for the company.
Presha Paragash will join the board of the company and partner in Sol Primero. Sol Primero is an investment firm set up by Wharton Alumnus Presha Paragash and Shweta Singh. The investment firm has become aggressively investing in new startups. They have invested in Zostel recently and Smartpocket, Ridingo and Curofy.
After funding Presha Paragash of Sol Primero said “We are excited to add Cubito to the Sol Primero family and look forward to working with Yash and Pranay.” The funding will be used for further expansion in technology and verticals of the company.
“With technology people tend to over complicate things and that is how we want to differentiate ourselves. With a completely in-house proprietary technology and a brilliant set of mentors, we focus towards making the experience of enabling transportation as a business or using it as a consumer, simple and a pleasure to deal with. We are looking forward to working with Sol Primero and are excited to take Cubito to the next level.” Said Yash Patodia after seed funded from Sol Primero.
“Transport logistics is an exciting space. And with the growing costs and complexities, Cubito has done well to position them and have brought out an amazing product which is simplifying the way transport logistics is dealt with today. They are at a good growth curve at the moment and things look promising for them considering the market trends and needs. Both founders are highly motivated individuals from BITS Pilani and I am glad to be able to help fellow BITSians,” says Phanindra Sama, Co-Founder, Redbus.in.
Lalit Ahuja, Founder of Kyron said “We are proud and excited with our partnership with Cubito. We see a huge opportunity in the potential disruption of transportation logistics and Cubito is perfectly positioned to be at the forefront of leading this transformation.”
The company has started serving major corporate like Air India SATS and others in a fiercely competitive market like the companies like Lithium and Moveinsync. Venture capital and companies like Qualcomm are showing interest in this space.