Capital A announces $25M fund, invests in RoaDo
Every year, Capital A plans to invest in 8-10 companies with a ticket size of $50,000 to $500,000 and will participate in follow-on rounds as well.
Thursday November 11, 2021,
2 min Read
Capital A, a venture fund for seed to early-stage startups, on Thursday said it has invested in Bengaluru-based B2B logistics tech startup, its maiden investment from its proprietary corpus of $25 million (about Rs 186.2 crore).
It, however, did not disclose the amount invested.
Every year, Capital A plans to invest in 8-10 companies with a ticket size of $ 50,000 to $ 500,000 and will participate in follow-on rounds as well, a statement said.
RoaDo is a cloud-based platform aiming to optimise visibility, real-time control and efficiency in the supply chains. The platform also allows tracking and tracing of consignments without any need for GPS or sophisticated hardware, offers AI-enabled exceptions and alerts with actionable insights, and automated customer updates.
"Logistics is considered to be the backbone of any country's economy... There is a need for a new generation of service providers who integrate infrastructure, technology and innovation to create solutions that help customers reduce operational costs and increase service efficiency," Capital A Founder Ankit Kedia said.
He added that Capital A's strategic involvement with RoaDo is a step towards its mission to invest in diversified and high potential sectors.
India is one of the biggest and fastest-growing logistics markets in the world, and the potential is immense.
However, there is a lack of digitisation and optimisation of processes, RoaDo founder and CEO Murugan Manoj Kumar J said.
The early-stage support (pre-series A funding) from Capital A will help the company further expedite the development of its platform and take it to the markets in a more streamlined and impactful manner, he added.