NeoTrack: Revolutionizing Safety and Efficiency in School Transportation:
Innovative Business Leader Of The Year 2024
In today’s fast-paced world, where safety concerns and efficient communication are paramount, NeoTrack emerges as a beacon of innovation. Founded in 2014 by Karthik R and Muralikumar B., NeoTrack is on a mission to make life safer for kids, peaceful for parents, and easier for schools. With over 650 schools nationwide relying on their state-of-theart Artificial Intelligence-based solutions, NeoTrack has revolutionized the way we think about student safety and transportation management.
Overview and Offerings
NeoTrack’s core focus lies in leveraging cutting-edge technology to address the challenges faced by parents, schools, and students in the transportation domain. Their solutions include GPS Vehicle Tracking, BioMetric/RFID Solutions for School Buses, Care-taker/ Driver Terminal Solutions, Bio-Metric/Short-Range/ Long-Range RFID/Face recognition Solutions for Campuses, and a range of other innovative offerings such as Digital Attendance, Communication Solutions, Video & Audio Surveillance, AI Video Analytics, and Fleet Management & ERP Solutions.
Challenges
One key challenge NeoTrack faces is balancing competitive pricing with maintaining strong brand value. Through continuous market research and targeted pricing models, they’ve attracted new customers while upholding their brand’s reputation for quality and innovation.
Uniqueness & Business Expansion
NeoTrack’s unique value proposition lies in being the only AI powered student tracking solution specifically designed to proactively address safety concerns in schools. Unlike competitors offering generic tracking solutions, NeoTrack provides school-specific features like real-time safety alerts, personalized student insights, and route optimization.
These AI-powered features have helped reduce school bus delays by 20% and improve student safety by 15%, leading to a 30% increase in their customer base within the last year.
By prioritizing schools and their specific needs, NeoTrack has become a frontrunner in India, with a promising start in the US and Middle East. Now, they’re setting their sights on further expansion within these regions while also exploring more international opportunities. Their confidence lies in a unique value proposition that they believe will resonate with educational institutions worldwide.
“We are a family of 150+ professionals with HO in India and offices in the US, Middle-East & Netherlands with a vision to build a unicorn in next 3 years. We have achieved impressive growth, doubling our subscriptions every year, and currently have an ARR (annual gross recurring revenue) of 3-4 Million USD.
My greatest achievement as an director of NeoTrack is the positive customer testimonials reflected by our app ratings which stands at 4.7/5.0 which is far ahead of its competitors & with 320,000 combined app downloads. Best Startup Award by CII & Tamilnadu Government from the hands of Mr. Chief Minister in 2020”
“The journey of NeoTrack began with a deep understanding of the pain points faced by parents & schools regarding student safety during commutes. Drawing from the experiences of working parents, where concerns about late buses and lack of communication were common, we saw an opportunity to bridge this gap using our technology expertise.
NeoTrack excels in product innovation and market value proposition with AI-driven systems adapting to transportation changes, minimal configuration efforts, no upfront hardware costs, fail-proof monitoring, multilingual accessibility, optimized route planning, and profit maximization. These unique features have established NeoTrack as a leader in education technology, driving growth and customer satisfaction.
Our software solutions are being daily used by over 350,000 paying end users & 650+ clients ensuring Safety & convenience in their day-to-day life. Best Impactor Award by Startup Kovai from the hands of Mr. IT Minister in 2022”.
Role of R&D in Growth and Flagship Solutions
R&D plays a pivotal role in NeoTrack’s growth, with over 20% of their revenue invested in research and development. Their talented team of 140+ developers constantly innovates, leading to an 80% growth in their customer base over the past year and the launch of several industry-first solutions.
Their flagship product, NeoTrack, was the first AI-powered student tracking solution in India, significantly improving safety and communication for schools and parents. Other solutions like NeoWings, and NeoTrack Live have emerged from continuous R&D efforts, addressing personalized learning and advanced video analytics needs.
NeoTrack’s innovations include an AIbased ERP solution for schools, demonstrating their commitment to staying ahead of the curve and addressing evolving needs in the education technology space.
Technology Shaping the Future
As a technology solutions company, NeoTrack is actively preparing for the future by investing in key technologies like AI, IoT, and cloud computing. They’re developing AI-powered solutions for deeper student behavioral insights and proactively identifying customer needs to deliver value.
Their focus on technology-driven solutions has already helped schools leverage data analytics to optimize bus routes and reduce costs by 15%. NeoTrack believes that technology will play a pivotal role in shaping their future success and staying ahead of customer expectations.
Celebrating 10 Years with Gen-AI Tool Launch
In the momentous event celebrated in March 2024, the company unveiled a groundbreaking tool harnessing Gen-AI, a cutting-edge solution promising to deliver unparalleled business value by transforming natural language inputs into actionable charts, reports, and business insights. NeoTrack is the first and only company in the world to launch Gen AI based solutions in the segment.
