Intracity logistics startup Mojro, has raised $650K investment led by 1Crowd and its investor community.
The Bengaluru-based surface logistics firm will use the fresh capital in technology development, team expansion for marketing and building partnerships with fleet owners.
Following the investment deal, banker M.A. Ravi Kumar and angel investor Sounder Kannan would join the Mojro’s board.
Mojro was founded in 2016 by Kishan Aswath, Amit Kulkarni, Ranganath Seetharamu and Swaminath Jeyachandran. The startup offers logistics platform operational planning, scheduling, resource management, freight, and process automation services.
A machine learning driven intra-city logistic planning and optimization platform, Mojro services can be used by large and medium businesses to optimize their logistics needs in terms of fleet utilization, space utilization, and cost optimization.
The startup has also struck partnerships with fleet owners providing them modern day techniques to improve service quality and providing businesses with the opportunity to plan and execute for their logistic needs through a single platform.
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1Crowd is an angel investment platform focused on early-stage ventures. The company claimed to have more than 600 investors, 70 mentors and has made over 13 investments since March 2016.
With the latest proceed, the company will be able to leverage 1Crowd’s ecosystem of mentors, industry connects and investor community to benefit from strategic to operational support.
Recently, another Bengaluru-based intra-city logistics company Porter raised Rs 50 crore Series C round from Mahindra Group. Porter offers mini-trucks Light Commercial Vehicle (LCVs) to SMEs, small businesses and individuals on demand as well as on fixed arrangement basis.
The development was reported by Businessworld.