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Mobile commerce platform Paytm has invested $10 million in logistics data start-up firm LogiNext. The move is in line with Paytm’s strategic plan to invest $150 million in a dozen Indian tech start-ups over the next few months.
For LogiNext, this is the first round of institutional funding.
“While large logistics companies have great in-house tech capabilities, smaller players have limited access to good technologies. To solve this, we are building a strong logistics cloud network for our merchants and courier partners and our investment in Loginext adds muscle to our cloud offerings. Loginext’s real time big data analytics platform will help courier companies to bring in more efficiency in their delivery network by route optimisation and real time tracking of their resources,” said Kiran Vasireddy, Senior Vice-President at Paytm.
LogiNext is a privately held big data analytics start-up backed by Indian Angel Network.
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