Total amount raised
$49.6 Millions
Latest funding date
01/01/2022
Location
LogiNext has successfully raised funds through multiple rounds, attracting a diverse group of investors including Sunn91 Ventures and Steadview Capital. The company continues to innovate in the logistics automation sector, providing enterprise SaaS solutions for home delivery and transportation businesses.
Keep reading to explore the intricacies of LogiNext's fundraising journey and the investors backing this innovative platform.
What Is LogiNext?
LogiNext, founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani, is an enterprise SaaS company based in Jersey City, New Jersey. The company specializes in logistics automation software, providing tools for efficient delivery management, route planning, and overall logistics optimization.
LogiNext's software automates end-to-end operational processes, including logistics data analytics, warehouse management, and asset tracking. This enables companies to plan and manage their dispatch schedules, delivery routes, and capacity in a cost-optimized way.
With a workforce of 101-250 employees, LogiNext continues to innovate in the logistics sector, enhancing customer experience through products like LogiNext Mile, LogiNext Reverse, and LogiNext On-Demand.
How Much Funding Has LogiNext Raised?
- Seed Round
- Amount Raised: $600K
- Date: April 2015
- Lead Investors: IAN Group, JioGenNext, Sanjay Mehta
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources without diluting equity.
- Series A
- Amount Raised: $10M
- Date: September 2015
- Lead Investors: Paytm
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further product development.
- Series B
- Amount Raised: $39M
- Date: January 2020
- Lead Investors: Steadview Capital, Tiger Global Management
- Valuation at Round: Approximately $100M
- Motivation Behind the Round: To expand operations to new locations and double the workforce, especially in R&D.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovation and expand market reach.
Total Amount Raised: $49.6M
Current Valuation: Not publicly disclosed
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a US-based investment firm known for its investments in technology and software companies globally. The firm has a strong track record of backing high-growth companies.
- Investment Focus Areas: Technology, software, internet companies
- Notable Investments: Facebook, LinkedIn, Flipkart
- Steadview Capital
- Details: Steadview Capital is an investment firm that focuses on long-term investments in public and private companies. The firm is known for its strategic investments in high-growth sectors.
- Investment Focus Areas: Technology, consumer, financial services
- Notable Investments: Ola, Nykaa, PolicyBazaar
- Paytm
- Details: Paytm is a leading digital payments and financial services company in India. It has diversified its portfolio by investing in various technology and fintech startups.
- Investment Focus Areas: Fintech, e-commerce, digital payments
- Notable Investments: Not publicly disclosed
- IAN Group
- Details: IAN Group is a network of angel investors that provides funding and mentorship to early-stage startups. The group has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Not publicly disclosed
- JioGenNext
- Details: JioGenNext is a startup accelerator backed by Reliance Industries. It supports early-stage startups through mentorship, funding, and strategic partnerships.
- Investment Focus Areas: Technology, telecommunications, digital services
- Notable Investments: Not publicly disclosed
What's Next for LogiNext?
LogiNext is poised for significant growth as it expands into new markets like New York, London, and Sydney. With a recent $39 million Series B funding round, the company plans to double its workforce, particularly in R&D, and acquire two vendors to enhance its service offerings. These moves are expected to solidify LogiNext's position in the logistics automation sector.
Future fundraising opportunities are likely as the company continues its global expansion and technological advancements. The increasing demand for logistics automation and AI-driven solutions presents a substantial market opportunity. However, LogiNext will need to navigate challenges such as integrating new acquisitions and managing rapid growth while maintaining service quality.
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