Mumbai based Mobile commerce platform Paytm has invested around $10 million that stands to Rs 66 Crores in the data analytics start up LogiNext which operates in the Logistics space. Over next few months, Paytm will be investing $150 million in tech startups. The funding is expected to bring in more efficiencies to the vertical delivery network
Alumni from Carnegie Mellon University Mr. Dhruvil Sanghvi and Ms. Manisha Raisinghani established LogiNext in the year 2014 to automate supply chain nodes to track shipments from the pick-ups to the line haul which is the last mile that involves reverse logistics. In addition to this, analytics tracking makes way for multiple data sources to forecast the correct ETA of their shipments.
The firm helps logistics companies to track their shipments, vehicles, its delivery boys and other assets on a real-time interface. Earlier LogiNext Solutions had investment worth Rs 3 Crore from the Indian Angel Investors. One97 is another flagship product of Paytm, endowed by Vijay Shekar which offers mobile wallets that allows customers to make payments for the purchases made through mobile phones. The mere mobile payment startup has transformed itself to an ecommerce portal that competes with ecommerce giants like Amazon, Snapdeal and Flipkart.
According to Kiran Vasireddy ,Senior Vice President with Paytm big data analytics platform has shown higher efficiency in tracking resources and in delivery network. Backed by Angel Network, LogiNext is a start up in big data analytics serving customers of medium and large enterprises. With technology in hand, Paytm provides optimization and real time visibility solutions to the logistical companies. This helps in incorporating transparency, real-time tracking and avoiding delays to get insights on assets, inventory and supply chain and distribution networks.