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Paytm to invest $10 m in LogiNext

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Mumbai: Mobile commerce platform Paytm has decided to invest $10 million in logistics data startup company, LogiNext.

Paytm is investing $10 million in the first round of institutional funding for the firm, and the move is in line with Paytm’s strategic plan to invest $150 million in a dozen Indian tech startups over the next few months, the company said.

LogiNext is a privately held big data analytics startup backed by Indian Angel Network.

At present, LogiNext serves customers in the medium and large enterprise bracket. It uses technology to provide real-time visibility and optimisation solutions to logistics companies and helps in avoiding delays, incorporating transparency, real-time tracking to get unique insights about moving assets, distribution networks, inventory and supply chain.

“While large logistics companies have great in-house tech capabilities, smaller players have limited access to good technologies. To solve this, we are building a strong logistics cloud network for our merchants and courier partners and our investment in Loginext adds muscle to our cloud offerings,” Paytm Senior Vice President Kiran Vasireddy said.

Loginext’s real-time big data analytics platform will help courier companies to bring in more efficiency in their delivery network by route optimisation and real-time tracking of their resources, Vasireddy added.

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