Artificial intelligence (AI) enabled logistics platform Transporter.city has raised an undisclosed amount of seed funding from Axilor Venture, private equity firm Touchstone Equities, and angel network Lead Angels. The round also saw participation from few undisclosed angel investors.
The company said it will use the funds to strengthen its technology capacity and build on its service capabilities across India.
Gurugram-based Transporter.city helps companies automate delivery planning (pickups/dispatches) for first/last mile distribution. It provides a location-enabled platform for facilitating operations in the ecommerce, logistics, food, groceries, waste management, and healthcare sectors.
Started by Shailendra Singh, Sonesh Jain, and Soumya Arora, the company also provides location-based software development kits (SDKs) that can be integrated with mobile apps to track on-field operations, shipping, and engagement between users and employees.
The company claims its SaaS model helps in offering an AI-enabled delivery CRM for automating logistical functions. The tool helps users to plan deliveries, reduce delivery costs by optimising routes, and to reduce failed attempts among other things.
At present, the logistics industry in India employs 22 million people, and is expected to be the largest job creator by 2022.
Last month, Gurugram- based technology-enabled logistics startup Rivigo raised Series E funding of $65 million from its existing investors SAIF Partners and Warburg Pincus.
The funding will be used by Rivigo to further strengthen its technology and network coverage, which is a key game changer for the larger logistics market in the country.
Earlier this year, Gurugram-based Delhivery raised $395 million in Series F round to become a unicorn. It also became the first Indian logistics provider to achieve a unicorn status.
The company raised $350 million from SoftBank Group alone, while existing investors Carlyle Group and Chinese conglomerate Fosun International also participated in the round.
B2B logistics tech startup Blackbuck too achieved the soonicorn status with its recent fund-raise.
(Edited by Megha Reddy)