Latest Sansar News
Sep 1, 2021
September 1, 2021 - Advertisement - Ben Horowitz, Co-Founder and General Partner, Andreessen Horowitz speaks at the WSJTECH Live conference on October 22, 2019 in Laguna Beach, Calif. REUTERS / Mike Blake (Businesshala) – Internet-of-things company Sansar Inc., backed by venture capital firm Andreessen Horowitz, said on Wednesday that it has confidentially submitted plans for a US initial public offering (IPO) to regulators. Sansar provides sensors and other IoT solutions for managing vehicle fleets and industrial operations. The company’s plans for a public listing come at a time when the issue of oversupply has cropped up after witnessing record levels of activity in the US IPO markets. Companies are pushing back their IPOs, while others, such as ad tech company Teeds, have completely shelved their listing plans here. Founded in 2015, Sansar serves over 20,000 customers in transportation and logistics, food production, energy, construction as well as local and state governments. Other investors in the San Francisco-based company include General Catalyst, Tiger Global and Dragoneer. Last year it was valued at $5.4 billion, Businesshala News reported. Sansar did not provide any other details about its IPO plans. Reporting by Noor Zainab Hussain and Sohini Poddar in Bengaluru; Editing by Krishna Chandra Elurik .