WheelsEye

WheelsEye is headquartered in Gurugram, India. The company operates in the logistics technology sector, providing digital solutions for truck fleet owners, logistics operators, and large enterprises across India. WheelsEye’s core business lines include GPS tracking, FASTag management, data analytics and online truck booking—all aimed at digitizing and streamlining the highly fragmented Indian trucking and logistics industry.

Key milestones and recognitions

• Over 20 lakh (2 million) trucks and 700,000+ verified operators on its platform.

• Presence in 1,600+ towns and service network of 3,000+ professionals PAN-India.

• Processed 10% of India’s commercial vehicle FASTag transactions as of 2024.

• Revenue reached ₹218.4 crore in FY24 with a 71% reduction in net losses (reflecting recent market trends toward operational efficiency).

Core Products and Services

• GPS Tracking Devices & Software: Real-time vehicle tracking, anti-theft features, and route optimization for truck owners and fleet managers.

• FASTag Management: End-to-end FASTag issuance, recharge and reconciliation, handling a significant share of India’s FASTag transactions.

• Data Analytics & SaaS Solutions: Actionable insights into fleet utilization, fuel consumption and predictive maintenance, with SaaS subscriptions forming a major revenue stream.

• Online Truck Booking Platform: App-based truck booking and freight estimation, connecting shippers with verified drivers for PAN-India deliveries.

• Marketplace & Value-Added Services: Fuel cashback, credit/loans for fleet owners, insurance and maintenance solutions.

• Customer Support: 24x7 helpline and in-app ticketing for operational issues.

Business Model & Revenue Streams

• Subscription Services: SaaS subscriptions for GPS tracking and analytics contributed 52% of FY23 operating revenue (₹109 crore).

• Product Sales: Sale of GPS hardware, FASTag devices and IoT sensors accounted for ~26% of revenue in recent years.

• Booking Commissions: Fees from online truck booking and freight matching, with commission income growing rapidly (905% YoY in FY21).

• Value-Added Services: Revenue from fuel cashback, insurance and short-term credit offerings.

Customer Segmentation

• B2B focus: Large enterprises, logistics companies and SMEs (majority of revenue).

• B2C/SMB: Individual truck owners and small fleet operators, a growing segment as digital adoption rises.

Top Clients & Partnerships

• Major Logistics Operators: WheelsEye’s platform is used by operators working with Amazon, Flipkart, Delhivery, Udaan, Porter, Blowhorn, LetsTransport, and GoBolt, among others.

• Large Enterprises: ITC, Tata group companies and several leading FMCG and manufacturing firms rely on WheelsEye for fleet management and analytics.

• FASTag & Banking Partners: Collaborations with banks and government agencies for FASTag issuance and reconciliation.

• Testimonial Clients: Regal Bus Services, Eliride, BT Travels and Sushil Trust cite WheelsEye’s GPS and telematics as transformative for their operations.

Future Outlook & Strategic Priorities

• Product Innovation: Expansion of value-added services (fuel, credit, insurance) and enhanced SaaS offerings for predictive maintenance and compliance.

• Market Expansion: Deeper penetration into Tier 2/3 cities and rural markets, adding 30,000 new trucks monthly.

• Ecosystem Consolidation: Building a one-stop digital platform for all trucking needs, aiming to digitize the broader Indian logistics sector.

• Regulatory changes: Shifts in GST, FASTag, or transport norms could impact business models.