Logistics and transportation automation platform Loginext Solutions has procured fresh funding of $39 million in a Series B round led by New York-based investment firm Tiger Global Management and Steadview Capital.
The round values the company at close to $100 million, with the company raising $50 million across multiple rounds to date.
The Fremont, California-based startup which has its research and development facility in Mumbai, had scored $10 million from financial services major Paytm and China’s Alibaba Group.
The company will use the proceeds from the latest round of fundraising to expand its presence to New York, London, and Sydney, while also doubling its workforce, with a focus on ramping up its customer success and research and development teams.
“With this investment, we are looking to build an even superior product which will help our customers differentiate from their competitors. We would like to expend a copious amount of focus into R&D and continue to spearhead innovations in this category.”
~ Manisha Raisinghani, chief technology officer, LogiNext
Loginext provides automated order management, real-time route optimisation, predictive capacity planning, dispatch automation, post-delivery processing, analytics of B2B transportation or B2C delivery business along with a host of other services.
Early investor in the company Sanjay Mehta, founding partner at 100X.VC took to twitter to confirmed his exit from the company.
