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.
Over 100,000 people subscribe to our newsletter.
See stories of Analytics and AI in your inbox.
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.