Mumbai: LogiNext Solutions Pvt. Ltd, the Mumbai-based logistics data analytics company, said on Tuesday that it has raised an undisclosed amount in funding from Indian Angel Network, a group of investors.

LogiNext was founded in 2014 by Dhruvil Sanghvi and Manisha Raisinghani and helps logistics companies to improve their internal operations, optimize delivery networks and provide customer service using data collection, advanced analytics and visualization.

The company currently serves medium and large enterprises in unorganized and emerging markets.

“We believe that today success in e-commerce is attributed to companies having control and visibility on their supply chain logistics. LogiNext has designed their software to work on multiple data sources to predict the correct ETA of individual shipments," said Sanjay Mehta, lead investor and member, Indian Angel Network.

The logistics industry in India is estimated to be around 12-13% of gross domestic product.

The rapid growth of Internet penetration and e-commerce companies has boosted demand for logistics services.

LogiNext was a part of the first batch out of GenNext Innovation Hub, an incubator for start-ups, in Navi Mumbai.

Reliance Industries Ltd partnered with Microsoft Ventures in September 2014 to set up the incubator.

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