Bengaluru and New Jersey-based intra-city logistics solutions provider Sagisu has secured ₹14.7 crores ($2.1 million) in a seed funding round from undisclosed investors in the US and India. The startup will use the funds to develop its flagship product Smart Logistics Hubs and also expand its operations to new locations. Furthermore, the startup will enhance its technology platform and scale up sales and supply chain capabilities.
Founded by Mithun Kadur, the B2B logistics platform provide customers with real-time information about truckers and enterprises including the shipping solutions via a mobile application that addresses problems related to transparency, warehouse management, price discovery and driver information management.
The startup already has 100 aggregated trucks serving under Sagisu’s three products portfolio named First Mile, Mid Mile and Last Mile. The startup focuses on solving the pain the point of transportation of retailers, e-commerce, dairy, FMCG, pharmacy and many more industries. The startup will also invest in the in-house capacity of fleets and add two products for the Indian market. The products are named ‘Just in Time’ and ‘Tailor-made Solutions’.
Sagisu was founded in May 2016 and has earlier raised around $500,000 from some high net worth individuals in angel funding. The startup has 50 people in its team. Logistics segment in India is seeing a lot of startups coming to solve various problems ranging from supply chain management to warehousing management.
There are some big players in the market like Blackbuck, Rivigo and Delhivery. These startups have bagged huge capital in several funding rounds and are sitting on the verge to become unicorns. However, there are several more startups like TruckSuvidha, TruckOla, Porter, 4Tigo, Lynk, TruckMandi which give competition to Sagisu.