The online retailer giant Flipkart seems to be attempting to make an investment of around $10 million to $15 million in Series A round to acquire a 10 or 20% percent stake in LogiNext Solutions Private Limited. It is a Mumbai based company providing logistics data analytics solutions via its SaaS based product.
The startup was founded by Dhruvil Sanghvi along with Manisha Raisinghani in the year 2014. As of now, the company has raised funds of around $3 million from Sanjay Mehta and Ajit Surana of Indian Angel Network. The company with a 15 member team is likely to close the funding within a fortnight and go in for global expansion.
LogiNext helps in automating the supply chain nodes letting them to keep a check on their shipments right from the pickups to line haul, reverse logistics and last mile. Besides tracking these, the company also provides analytics from several data sources in order to predict the precise Expected Time of Arrival of the individual shipments.
Both Dhruvil and Manisha are alumni of Carnegie Mellon University. The startup is involved in helping the logistics companies to track their shipments, delivery vehicles, staff, and other assets in real time using a map interface.
LogiNext belong to the first batch of the Navi Mumbai based GenNext Innovation Hub that is an incubator for the startups. Lately, the e-commerce marketplace Snapdeal acquired the warehousing solutions provider Unicommerce that is based on SaaS for an undisclosed amount.
As per the industry experts, the e-commerce portal Flipkart is eyeing to acquire a prominent stake in LogiNext’s technology in order to achieve faster delivery of its orders. Already, the e-tailing firm has eKart, a logistics arm, but the partnership with this startup is likely to bring in advanced logistics data analytics capabilities to help in faster delivery.