The Mumbai-based logistics analytics startup, LogiNext Solutions has raised seed funding of INR 3 Cr from Indian Angel Network (IAN). It offers advanced analytics to improve logistics and supply chain in an organisation.
As per the deal terms, Sanjay Mehta, Lead Investor and Member of IAN, will join the LogiNext board. Loginext uses Internet of Things (IoT) and Big Data to optimise delivery networks, internal operations and other logistics services.
Speaking on this development, Dhruvil Sanghvi, Co-founder of LogiNext said, “India’s logistics sector is poised for accelerated growth and technological disruption with favourable environment led by GDP revival, ramp up in transport infrastructure, ecommerce penetration and the impending GST implementation. This has opened the floodgates of opportunities across the spectrum for companies dealing in the logistics space.”
LogiNext employs smart technology to help the companies to avoid postponements, incorporate transparency, and perform real-time tracking to get insights about their moving assets, distribution networks and supply chain.
Founded by Dhruvil Sanghvi and Manisha Raisinghani in 2014, both graduates from Carnegie Mellon University. It offers real time tracking and logistics analytics which helps track rail cargoes, trucks and couriers boys, and spot delivery bottlenecks. The startup serves medium and large scale enterprises. Prior to starting this, Dhruvil and Manisha have gained consulting experience at companies such as Deloitte and IBM in the US.
The company claims to have 15 paying clients and is doing pilots for 25 firms, including Flipkart and Snapdeal.