Saas-based logistics tech startup Locanix raises funding

A group of investors including senior executives from Cisco and Goldman Sachs have invested Rs 2 crore (around $300,000) in software-as-a-service (SaaS) based logistics tech startup Locanix. The Ahmedabad-based startup will use the funds to scale its operations, The Economic Times reported. Queries sent to the firm did not elicit any response at the time of filing this report. The firm counts DSK Toyota, Sadbhav Engineering and Amul as its clients and has partnered with Mahindra & Mahindras truck and bus division (MTBD). Established in 2013 by Ruchit Surati, the firm offers GPS location information services such as remote temperature monitoring, fuel monitoring, mining, auto dealership and high value goods transportation with a focus on safety, security and operational efficiency.