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LogiNext raises USD 39 Mn in equity round

Jan 24, 2020 by The Passage Team
LogiNext raises USD 39 Mn in equity round

Transportation automation platform LogiNext has raised USD39 million in a fresh round led by New York-based investment firm Tiger Global Management and Steadview Capital.

“We are very excited about this opportunity of investing in one more SaaS company build in India and selling to the world because we believe that in the years to come, most of the sophisticated software will be bought from Indian minds,” Ravi Mehta, chief executive of Steadview Capital, said in the company-issued statement.

The company will use the proceeds from the latest round of fund raising to expand its presence to New York, London, and Sydney, while also doubling its workforce, with a focus on ramping up its customer success and research and development teams.

“End customers, be it consumers or businesses, are expecting things to reach them faster than ever and our technology platform can help enterprises do just that,” Dhruvil Sanghvi, CEO of LogiNext, said.

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