Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Last mile logistics technology solution provider startup, Gray Routes Technology Pvt. Ltd, has raised an undisclosed amount in a second round of angel funding from Mahesh Parasuraman, co-founder of VC firm Amicus Capital; Rahul Gautam, a Hong Kong-based investment banker and a group of other angels from The Carlyle Group. The round also saw participation from existing investors.
The startup will use the fund for international patent protection, developing world-class data analytics capabilities as well as domestic expansion.
Founded in 2013 by Sapna Patel, an ex-Google executive and Soubhagya Sahoo, an ex-employee of Hindustan Unilever Ltd, Gray Routes, is a B2B hyperlocal logistics technology and services platform. It provides real-time data analytics service to help its clients make better decisions pertaining to sales and marketing. Along with sales force mapping, the company has developed priority clustering based route optimisation, demand visualisation heatmap, automated map based task assignment, data sync techniques, and a vernacular language engine for navigation for the last mile workforce.
It counts its clients as some of the fortune 500 companies which include P&G, Nivea, GSK along with some 280 SMEs as clients who use its solution to automate and optimise their last mile delivery/sales operations. It offers logistic solution in in the restaurant, retail, pharmacy and bakeries sectors.
Formerly known as Gray Routes Innovative Distribution, the company has over 26 patent claims for its SaaS solutions, and has developed automated patent-pending planning systems that can be used to plan, optimise and coordinate in real time and execute work among the sales managers and last mile workers.
The startup has been recognised as one of the top 4 tech companies in India and in UK’s Royal Academy of Engineering LiFe Awards, 2015. It was also one of the top 30 B2B companies in IBM SmartCamp 2014.
Gray Routes has earlier secured $100,000 from a group of unnamed angel investors in Bangalore and Silicon Valley in July 2013.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.