Get2Volume Press Release

SYPHER LABS RAISES US$460K TO SCALE ITS FLEET TRACKING

Singapore, June 10, 2014 - Scaling its fleet and logistics management system, Sypher Labs today announced it has secured financing, raising S$589,000 and incubation support from Singapore-based Get2volume, who will incubate Sypher Labs with co-funding from the Singapore National Research.

Sypher Labs’ VersaFleet™ is a full-suite operations management solution. In addition to the fleet visibility provided with VersaView™, logistics SMEs get access to a fully integrated enterprise resource management system, from job order management through to invoice capabilities and driver management capabilities. VersaView™ gives fleet owners the ability to track and monitor their vehicles’ location and driving history. GPS systems are installed in all vehicles and customers access operations management data though a cloud-hosted central ops portal. 
VersaView™ is targeted at customers who have less to benefit from the full-suite planning and invoicing capabilities of VersaFleet™. Examples are shuttle bus service operators who run fixed routes at fixed timings. Even though these operators may not need planning or invoicing capabilities, they will still benefit from the ability to know where their fleet is in real-time with our GPS tracking function. VersaView™ also functions as our “trial period” product, allowing customers to experience some of our product capabilities before converting to VersaFleet™.
“There are more than 10,000 Logistics SMEs across Singapore and Malaysia. Sypher Labs enables automation, improving the productivity of these logistics companies,” said Shamir Rahim, founder and CEO of Sypher Labs.  “This funding and incubation from Get2Volume and NRF enables us to deploy Versa Fleet to these customers in South East Asia”.
“The Internet of Things is a significant opportunity and the one of the largest segments is asset and fleet tracking.  Sypher Labs has a great solution to improve the efficiency of logistics companies with its IOT asset management solutions,” said Mike Holt, CEO Get2Volume.  “We are excited to be a part of Sypher’s next phase of growth”.

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