Logistics solution provider Sagisu raises $2.1 million
Intra-city logistics aggregator Sagisu will use the investment to build smart hubs, expand its footprint, and scale up technology platform.
Sagisu, an intra-city logistics solution provider, has secured seed funding of $2.1 million to scale up its operations.The funding commitment is from prominent investors in the US and India. The investment comes on the back of Sagisu’s steadily growing business model and customer base.
The company aims to build 50 smart hubs and expand into major cities in India. It will use the funds to build Smart Logistic Hubs and to expand into new areas along with scaling up their technology platform and sales/supply organisation capabilities.
Operated by Dispatch Global Inc., Sagisu is based out of New Jersey and Bengaluru.
“We at Sagisu have been highly successful in providing multiple point logistics solutions to enterprises and intra-city truckers, especially for their problems related to price discovery, transparency, warehouse management, and driver information management. Acceptance and adoption of our product lines has been very encouraging, thus setting us up for expansion across other markets in India,” said Mithun Kadur, Founder and CEO of Dispatch Global Inc..
“Unlike prevailing intracity truck aggregators, Sagisu’s unique business model will blend the flexibility of aggregation with the reliability of in-house capacities aided by the data-first approach to overcome inefficiencies in the logistics space. This would allow the company to engage strategically with its clients rather than the popular practice of tactical vendor relation with enterprise customers,” he added.
Sagisu was founded in 2016 by Mithun Kadur, an IIM-Bengaluru alumnus. It is a Software-as-a-Service (SaaS) product that also ensures that product SLAs are guaranteed during loading and unloading. Businesses and customers can track their parcels through a common dashboard using an app on drivers’ mobile phones.
It claims to have over 100 aggregated trucks serving mid-mile and last-mile transportation needs of clients in retail, ecommerce, FMCG, logistics etc.
“Besides aggregation, to address the core need of reliability and inventory turn reduction, we will be investing in in-house capacity of fleet as well. Also, in addition to the current portfolio of 3 product lines, we are gearing up to roll out 2 more products in Indian markets in early 2019,” said Nagesh Rajanna, CEO of India Business.