Intugine, a real-time multimodal supply chain visibility startup, has raised Rs 19 crore or $2.3 million in its pre-series A round led by Mela Ventures and Kaleesuwari Group, and Innoport. Startup founders including Harsh Shah, Anshul Rai, and Kashyap Deorah have also participated.
The funds will be deployed to fuel product development, explore global markets and expand its team across product, data, and GTM functions, the company said in a release.
Founded by Harshit Shrivastava and Ayush Agrawal, Intugine’s comprehensive multimodal solutions are helping businesses track their shipments across full truck loads, partial truck loads, ocean, and rail transportation.
Currently, the startup claims that it tracks over 10 million shipments on its platform for over 75 global customers across the chemical, automotive, building materials, consumer durables, FMCG, retail, and e-commerce industries. As per the company, its solutions have enabled companies to reduce excess inventories by more than 30%. It further added that 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.
Early-stage startup-focused fund Mela Ventures had raised Rs 320 crore marking the final close of its maiden fund in March this year. Its portfolio companies include Tessol, FirstHive, Voiro, and Infilect among others. The firm intends to invest in 16-18 early-stage startups with the new corpus.
