IP Ventures backs IoT-enabled logistics startup Intugine
Summary
The company plans to deploy newly raised capital to strengthen its core operations, and also expand its sales team, an official statement said. Founded by Harshit Shrivastava, Mrinal Rai, Ayush Agrawal, a team of IIT Kharagpur dropouts, Intugine is developing technology infrastructure for transportation using internet of things (IoT) to make marketplace fleet tracking easier and cheaper. “With expertise in IoT technologies, we are able to track, model and predict the behaviour of third-party vehicles hired by manufacturers, third party logistics, e-coms and shippers, helping them plan better and operate more efficiently.” “We are excited to have IPV on board as an investor and mentor while we take the next steps of our journey. The massive reach of IPVs network and various industry experts on-board gives us a lot of confidence for fuelling our rapid growth over the next few years” Shrivastava added . "Intugine is solving the unique problem of streamlining a highly unorganised logistics industry with a combination of cost-effective hardware and very intelligent software & analytics,” said Anuvrat Joshi, an active angel investor at IP Ventures.
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