in

IoT Startup, Transport Hub Secures Seed Funding

Transport Hub, which is a logistics tech startup has now secured Rs 3.5 crore in the funding round of seed from a clutch of high net worth individuals people.

The company will now be going to use the funds to scale up its business. Transport Hub also revealed that it was in talks with some of the new investors to secure Rs 50 crore for its Series A funding round, which will be going to close in the coming 3-4 months.

The startup which was founded by the Rohit Chaturvedi in the year 2016, who is also a former director at the CRISIL where he built the transport and logistics consulting practice.

It offers a tech platform that uses the Internet of Things and analytical tools to provide the logistics related services across the supply chain. The company also claimed that its IOT based solution helps save around 5% of the total transportation cost for the shippers and companies.

Its proprietary product ICE, which is designed for the cloud chain players, automates the maintenance of optimal temperature where the shipment is on the stationary or move.

The client base of the Transport Hub includes the Adani Wilmar, KPMG, Renuka Sugars, Vadilal, Maharashtra Road Transport, Express Roadways, Allana, among others.

Last week, Zinka Logistics Solutions Pvt Ltd, which operates a business to business tech-enabled logistics startup Blackbuck, was also securing Rs 303 crore in the fresh funding round led by some of the new investor Goldman Sachs.

In the month of February, logistics firm Rivigo also secured $35.6 Million in the fresh funding round from some of the existing investors Warburg Pincus and SAIF Partners.

Report

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

Leave a Reply

avatar
  Subscribe  
Notify of

AI To Son Eliminate Majority Of Management Work By 2030

Moglix Transforms FMCG Giant Unilever Procurement’s Contracting Work