Intugine, a real-time multimodal supply chain visibility startup, has raised Rs 19 crore in a pre-series A funding round led by Mela Ventures and co-financed by Kaleesuwari Group and Innoport.
The round also saw participation from marquee investors, including SaaS founders Harsh Shah, Co-founder of Fynd; Anshul Rai, Co-founder and CEO of Happay; and Kashyap Deorah, Founder and CEO of HyperTrack.
Existing investor Kanav Hasija, Co-founder of InnovAccer, also participated in this funding round. According to the company’s statement, The raised capital will be deployed to fuel product development, explore global markets and expand its team across Product, Data and GTM functions.
Founded in 2017 by IIT Kharagpur dropouts Harshit Shrivastava and Ayush Agrawal and SRCC graduate Mrinal Rai, Intugine is a real-time multimodal supply chain visibility enabler that helps businesses optimise and digitise their logistics operations.
Intugine said its comprehensive multimodal solutions are helping businesses track their shipments across Full Truck Loads, Partial Truck Loads, and Ocean and Rail transportation.
The startup claims to track over 10 million shipments on their platform for 75+ global customers across the chemical, automotive, building materials, consumer durables, FMCG, retail and e-commerce industries.
Harshit Shrivastava, Co-founder & CEO, Intugine, said, “Enterprise supply chains are rapidly evolving to support omnichannel buying and distribution, making operations increasingly complex and cost-intensive. 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.”
Visibility is one of the fastest-growing segments in supply chain technology globally. Frequent supply chain disruptions, compounded by the pandemic, an increased focus on superior customer experience, and active government participation are the key drivers behind this trend.
The Government of India, for instance, has launched ULIP as a part of the National Logistics Policy, with Intugine being one of the few exclusive partners of this initiative, it said.
Krishnakumar Natarajan, Managing Partner, Mela Ventures, said, “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. We are excited to partner with Harshit, Mrinal and Ayush in their quest to digitally transform global supply chains and be an integral part of their growth story.”
Source @Indianstartupnews
