Multimodal Supply Chain Visibility Startup Intugine raises Rs 19 crores in Pre-Series A
- Funds raised to be primarily used for hiring, product development, increasing the network of integrations, and international expansion
- Mela Ventures led the investment round
- Round also saw participation from Leposhe and Innoport along with marquee angels Kanav Hasija, Co-founder InnovAccer, Harsh Shah, Co-founder, Fynd, Anshul Rai, Co-founder Happay and Kashyap Deorah, Co-founder, HyperTrack
Bengaluru, 29 November 2022: Intugine, a real-time multimodal supply chain visibility startup, has raised INR 19 Crores in a pre-series A round led by Mela Ventures and co-financed by Leposhe and Innoport. Round also saw participation from marquee investors, including SaaS founders Harsh Shah, Co-founder of Fynd; Anshul Rai, Co-founder and CEO of Happay; and Kashyap Deorah, Founder and CEO of HyperTrack. Existing investor Kanav Hasija, Co-founder of InnovAccer, also participated in this funding round. The funds raised will be deployed to fuel product development, explore global markets and expand its team across Product, Data and GTM functions.
Intugine’s comprehensive multimodal solutions are helping businesses track their shipments across Full Truck Loads, Partial Truck Loads, Ocean and Rail transportation. Today, they track over 10 million shipments on their platform for 75+ global customers across the chemical, automotive, building materials, consumer durables, FMCG, retail and e-commerce industries. Their solutions have enabled companies to reduce excess inventories by more than 30%. In fact, enterprises have seen a 0.5-1% uptick in their top line due to an increase in on-time deliveries, thereby preventing loss of sales.
Harshit Shrivastava, Co-founder and CEO, Intugine, says, “Enterprise supply chains are rapidly evolving to support omni-channel buying and distribution, making operations increasingly complex and cost-intensive. We have built a technology platform that gives enterprises end-to-end visibility of their shipments and greater control over their logistics operations. With improved visibility, enterprises can substantially reduce their operational costs, improve their margins and deliver exceptional customer experience.”
Visibility is one of the fastest-growing segments in supply chain technology globally. Frequent supply chain disruptions, compounded by the pandemic, an increased focus on superior customer experience, and active government participation are the key drivers behind this trend. The Government of India, for instance, has launched ULIP as a part of the National Logistics Policy, with Intugine being one of the few exclusive partners of this initiative.
Krishnakumar Natarajan, Managing Partner, Mela Ventures, says, “The dynamic and evolving logistics landscape has made the need for visibility into supply chain networks a necessity for success. It is high time for brands to invest in sophisticated technology to support their consumers’ rapidly changing purchasing behaviour. We are excited to partner with Harshit, Mrinal and Ayush in their quest to digitally transform global supply chains and be an integral part of their growth story.”
Intugine is a real-time multimodal supply chain visibility enabler that is helping businesses optimise & digitise their logistics operations since 2017. Founded by IIT Kharagpur dropouts Harshit Shrivastava and Ayush Agrawal and SRCC graduate Mrinal Rai, Intugine is the only multimodal visibility company in India today. Intugine works with 75+ global enterprise names like Titan, Diageo, Ultratech Cement, Flipkart and Mahindra Logistics. For more information, visit https://intugine.com
About Mela Ventures
Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for early-stage companies. With a goal to build next-gen entrepreneurs, the fund focuses on building a portfolio in areas such as AI/ML, AR/VR, IoT, Cloud Migration and Deep Technologies. Mela Ventures was founded by Industry veterans Krishnakumar Natarajan and Parthasarathy NS, who have co-founded Mindtree and taken it from a startup to a multi-billion-dollar market cap enterprise.
For more information, visit https://www.melaventures.in/
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