Intugine raises Rs 19 Cr in Pre-Series A funding round led by Mela Ventures, others
- ByStartupStory | November 30, 2022
Intugine, a business that provides real-time multimodal supply chain visibility, has secured $2.3 million, or Rs 19 crore, in a pre-series A investment that was primarily led by Mela Ventures, Kaleesuwari Group, and Innoport. Entrepreneurs from startups like Harsh Shah, Anshul Rai, and Kashyap Deorah have also taken part.
According to a press release from the company, the cash will be used to support product development, investigate international markets, and grow its staff across product, data, and GTM activities.With its comprehensive multimodal solutions, Intugine, founded by Harshit Shrivastava and Ayush Agrawal, helps businesses trace their shipments across full truck loads, half truck loads, maritime, and train transit.
The business states that it currently tracks over 10 million shipments for over 75 international clients in the chemical, automotive, building materials, consumer durables, FMCG, retail, and e-commerce industries on its platform. According to the business, its solutions have helped businesses cut back on excess inventories by more than 30%. It continued by saying that businesses have observed a 0.5–1% improvement in their top line as a result of an increase in on-time deliveries, preventing sales loss.
Mela Ventures, a fund that focuses on early-stage startups, raised Rs 320 crore for the final close of its first fund in March of this year. Among the businesses in its portfolio are Tessol, FirstHive, Voiro, and Infilect. With the increased corpus, the company plans to invest in 16 to 18 early-stage firms.
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