Intugine Technologies, a Bengaluru-based, IoT (Internet of Things)-driven logistics startup has secured an undisclosed amount from IP Ventures. The startup will deploy the infuse capital in order to strengthen its core software and hardware, and also expand its sales team.
“At Intugine, we are working towards digitising the highly unorganised logistics space. With expertise in IoT technologies we are able to track, model and predict the behaviour of third-party vehicles hired by manufacturers, ecommerce businesses and shippers, helping them plan better and operate more efficiently,” Harshit Shrivastava, co-founder and CEO of Intugine said.
Intugine Technologies is a Bangalore based IoT company, started in 2013 by Shrivastava, Abhishek Sharma and Mrinal Rai. It is a developing technology infrastructure for transportation, using IoT to make marketplace fleet tracking easier and cheaper.
The company aims to revolutionalize the logistics sector of India, which is still at its nascent stage as compared to its foreign counterparts.
“We are excited to have IPV on board as an investor and mentor while we take the next steps of our journey. The massive reach of IPV’s network and various industry experts on board gives us a lot of confidence for fuelling our rapid growth over the next few years,” Shrivastava further said.
“Intugine is solving the unique problem of streamlining a highly unorganised logistics industry with a combination of cost-effective hardware and very intelligent software and analytics. The market potential is massive since offering customers visibility and the ability to optimise their logistics is a game changer in this industry. Intugine is able to do this in a cost-effective, repeatable, and reliable manner,” Anuvrat Joshi, investor at IP Ventures, said.
While, apart from Intugine, other players in the logistics industry includes Loginext, Fareye, Rivigo, Delhivery, Telogis, Fleetmatics, Blackbugs, Freight Tiger, etc.
Also read: Mumbai-based Freight Tiger raises $8 million from Lightspeed Venture Partners