Intugine has raised $2.3 Mn (INR 19 Cr) in Pre-Series A funding round led by Mela Ventures
Kaleesuwari Group, Innoport, Fynd’s Harsh Shah, Happay’s Anshul Rai, HyperTrack’s Kashyap Deorah and InnovAccer’s Kanav Hasija have also participated in the round
Intugine claims to have tracked more than 10 Mn shipments from over 75 customers globally across varied sectors
Logistics-focussed software as a service (SaaS) startup Intugine has raised $2.3 Mn (INR 19 Cr) in Pre-Series A funding round led by Mela Ventures.
Kaleesuwari Group and Innoport and individual investors including Fynd’s Harsh Shah, Happay’s Anshul Rai, HyperTrack’s Kashyap Deorah and InnovAccer’s Kanav Hasija have also participated in the round.
Founded in 2017 by Harshit Shrivastava, Ayush Agrawal and Mrinal Rai, Intugine helps businesses track their shipments across truck loads, ocean and rail transportation.
Intugine claims to have tracked more than 10 Mn shipments from over 75 customers globally across varied sectors such as chemical, automotive, building materials, consumer durables, FMCG, retail and ecommerce.
“The dynamic and evolving logistics landscape has made the need for visibility into supply chain networks a necessity for success. It is high time for brands to invest in sophisticated technology to support their consumers’ rapidly changing purchasing behaviour,” said Krishnakumar Natarajan, managing partner at Mela Ventures.
Intugine said that it enables businesses to reduce inventories by more than 30% and meanwhile, helped increase on-time deliveries by 0.5-1%.
The startup will use the fresh funds to develop products, explore international markets and expand its product development, data and GTM (go-to-market) teams.
“We have built a technology platform that gives enterprises end-to-end visibility of their shipments and greater control over their logistics operations. With improved visibility, enterprises can substantially reduce their operational costs, improve their margins and deliver exceptional customer experience,” said, Harshit Shrivastava, cofounder and CEO, Intugine.
The startup claims to be an exclusive partner of the Centre’s national logistics policy.
It counts Titan, Diageo, Ultratech Cement, Flipkart and Mahindra Logistics as its customers.
According to a Bain & Co report, India’s SaaS industry garnered investments up to $4.5 Bn in 2021. The industry is projected to become a $30 Bn space by 2025, capturing 9% of the global market by 2025.
Recently, California-based SaaS startup Celebal Technologies secured $32 Mn from Norwest Venture Partners. Prior to that, SaaS startup UserStudy bagged $1 Mn in its pre-seed funding round led by Better Capital.
