Intugine Technologies, an Internet of Things-based logistics startup, announced on Tuesday that it has raised Rs 19 crore (approximately $2.2 million) in pre-series A funding led by Mindtree founders’ newly launched venture capital firm Mela Ventures.
Kaleesuwari Group, Innoport, Harsh Shah (Fynd), Anshul Rai (Happay), Kashyap Deorah (HyperTrack), and existing investor Kanav Hasija also participated in the round.
The new funds will be used to expand the company’s team and geographical reach, as well as to expand its product portfolio.
Intugine, founded in 2013 by Harshit Shrivastava, Ayush Agrawal, and Mrinal Rai, is a supply chain visibility enabler that helps businesses optimise and digitise their logistics operations. It claims to collaborate with 75 global companies, including Titan, Diageo, Ultratech Cement, Flipkart, and Mahindra Logistics.
Intugine received funding from Inflection Point Ventures in July 2019.
Mela Ventures was founded by the founders of software services company Mindtree, Parthasarathy NS and Krishnakumar Natarajan.
Parthasarathy previously served as Mindtree’s vice chairman and chief operating officer (COO), while Natarajan served as the company’s chairman. Both left Mindtree after Larsen & Toubro (L&T) completed its hostile takeover in mid-2019.
Mela Ventures announced the final close of its maiden fund in March, raising Rs 320 crore, exceeding its target.
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