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Paytm to invest $10 million in logistics data firm LogiNext

  • Mobile commerce platform Paytm has said it is investing $10 million in
    logistics data start-up company, LogiNext.
    • Mobile commerce platform Paytm has said it is investing $10 million in
      logistics data start-up company, LogiNext.
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    • Image result for Paytm to invest $10 million in logistics data firm LogiNext
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    • 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, the company said in
      a statement.
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    • “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
      and courier partners,” said Kiran Vasireddy, Senior Vice-President at
      Paytm.
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    • “LogiNext’s real-time big data analytics platform will help courier
      companies to bring in more efficiency in their delivery network, by route
      optimization and real-time tracking of their resources,” he added.
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    • LogiNext is a privately-held big data analytics start-up backed by the Indian
      Angel Network. At present, LogiNext serves customers in the medium and large
      enterprise bracket.
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    • It uses technology to provide real-time visibility and optimization solutions
      to logistics companies and helps in avoiding delays, incorporating transparency
      and live tracking to get insights about moving assets, distribution networks,
      inventory and supply chain.
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    • In June this year, Paytm had invested $5 million in another logistics
      and transportation start-up, Jugnoo in funding led by Snow Leopard. Through
      these investments, Paytm will essentially look to improve its delivery
      logistics.
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    • Paytm’s investors include Ant Financials (AliPay), SAIF Partners,
      Sapphire Venture and Silicon Valley Bank.
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