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LogiNext secures $10M from Paytm

loginextLogistics 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.

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-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 to pilot its e-commerce logistics business model for Asia-Pacific. It’s Indian subsidiary Blue Dart Express would conduct the pilot project on behalf of DPDHL. The company told DNA that it would invest €100 million in the country over the next two years to build the infrastructure for this business.

– In April last year Amazon India had started working with kirana stores in Bangalore for in-store pick up of products ordered from its website. The company had launched its third-party logistics service in India in November 2013.

– Flipkart opened up its logistics arm eKart Logistics to other operators, last year in February. eKart was originally created to serve WS Retail, Flipkart’s B2C side.

– Kartrocket, an e-commerce platform for SMEs and smaller retailers, also has an in-house shipping solution called Shiprocket which it had opened up as a stand alone service to all e-tailers in India, in December 2013.

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