Logistics data start-up company LogiNext has got support from mobile commerce platform Paytm, which will invest $10 million in the first round of institutional funding for the firm.
The move is in line with Paytm’s plan to invest $150 million in Indian tech start-ups over the next few months.
Loginext’s big data analytics platform will help courier companies to bring more efficiency in their delivery network by route optimisation and real-time tracking of their resources.
LogiNext is a privately held big data analytics start-up backed by Indian Angel Network, one of the largest angel investing groups in India.
Founded by Dhruvil Sanghvi and Manisha Raisinghani in 2014, LogiNext was a part of the first batch of GenNext Innovation Hub, an incubator set up by the Mukesh Ambani-led Reliance Industries along with Microsoft Ventures. Currently, LogiNext caters to customers in the medium and large enterprises. The data analytics startup received a funding of $500,000 from Indian Angel Network in April this year. The startup employs technology to provide real-time visibility and optimization solutions to logistics companies.