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LogiNext secures $10M from Paytm

Logistics data analytic firm LogiNext has raised $10 million in Series A round of funding from Paytm, reports YourStory. The company will use the funds for expansion in Southeast Asia. The Mumbai based logistics analytic and tracking startup had earlier raised seed funding of $500,000 from Indian Angel Network led by Sanjay Mehta and Ajit Surana. LogiNext was founded by Dhruvil Sanghvi and Manisha Raisinghani in 2014. It allows logistics and supply chain companies to track shipments, vehicles, assets and delivery personnel real time on a map. It also offers this tracking and analytic for e-commerce, courier, parcel, retail and grocery companies. In June this year, Paytm had invested $5 million in another logistics and transportation startup, Jugnoo in funding led by Snow Leopard. Through these investments, Paytm will essentially look to improve its delivery logistics. Competition -In 2014, Delhi-based e-commerce logistics solution provider Holisol Logistics received $1.5 million investment from oil and gas professional Sundeep Bhandari through his company Datavision. -In May, E-commerce logistics services provider Delhivery raised $85 million in a Series D round of funding led by Tiger Global Management and participation from existing investors including Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited. -In February, e-commerce company Infibeam launched a SaaS-based logistics services aggregation platform called ShipDroid, which would help merchants deliver packages throughout the country. The service is currently integrated with Infibeam’s BuildaBazaar and to use it merchants have to enable the setting in BuildaBazaar. – In September last year, mail and logistics group Deutsche Post DHL (DPDHL) chose India…

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