Infosys’ co-founder and former UIDAI chairman, Nandan Nilekani, is in the process of investing in an early-stage venture Fortigo.
Yet to be launched startup, Fortigo, will attempt to solve fundamental challenges in the trucking and logistics space. It aims to improve the quality of transportation services in businesses.
Besides Nilekani, Fortigo also plans to rope in other investors including Accel Partners, reported ET.
As reported the startup is on a lookout to raise close to $2 Mn in seed funding.
Related Article: Nandan Nilekani Backs Ecommerce startup 10i Commerce Services
Fortigo is being launched by IIT Kanpur alumni, Vivek Malhotra, whose previous stint includes working in Headstrong, Symbiotic Sciences, HCL, Pyramid Software, Shyam Telecom and 3i Infotech, and Anjani Mandal, who has been a CEO at Manipal Technologies Ltd apart from holding various positions in Genpact Headstrong Capital Markets, iGate, Essar Teleholdings, Xerox India, HCL and Pyramid Software.
Prior to this, Nilekani has invested in two other tech startups that include mobile payments data startup Mubble and mobile-first publishing startup Juggernaut in September this year. Besides, Nilekani has backed aerospace startup Team Indus and marketplace for startup funding, LetsVenture
According to the founding members, Fortigo is building a fleet management service for truck owners that will help them manage and track their inventory more efficiently and help save logistics costs, while also helping truck drivers plan journeys more effectively and reduce the possibility of delays in transportation.
The Indian trucking industry is currently reported to be valued at $130 Bn and there are approximately 5.6 Mn on road vehicles transporting 80% of the country’s freight.
Off late there have been other startups working in the same domain like TruckSumo that provides a platform to connect transportation service providers with SME’s and TruckSuvidha that bridges the gap between the customer, transporter and other related entities with the logistics requirements.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.