Digital payment and m-commerce firm Paytm has invested $10 million in logistics data start-up company LogiNext.
The move is in line with Paytm’s strategic plan to invest $150 million in a dozen Indian tech start-ups over the next few months. LogiNext is a privately held data analytics start-up backed by Indian Angel Network. 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.
Speaking on the investment, Kiran Vasireddy, senior vice president at Paytm, said, “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 & courier partners and our investment in Loginext
adds muscle to our cloud offerings.