Logistics startup Enmovil raises ₹10 crore in pre-Series A funding
According to Enmovil Solutions, the new capital infusion will be utilized to boost innovation across field and yard logistics
PremiumBENGALURU : Logistics startup, Enmovil Solutions Pvt. Ltd., on Tuesday said that it has raised ₹10 crore as a part of its pre-Series A funding round led by Anicut Angel Fund.
The round also saw participation from KCT Group, Blackbird Investments Pvt. Ltd. and RB Investments in this round.
According to the company, the new capital infusion will be utilized to boost innovation across field and yard logistics.
Six-year-old Enmovil provides a multi-modal logistics technology platform optimising end-to-end operations for field and yard logistics. Enmovil’s 'autometrics' platform uses machine learning (ML) driven algorithms to automate material and fleet movement from the warehouse to the dealer.
“Enmovil is scaling up as the unique solution provider for OEM logistics. Our artificial intelligence-driven platform empowers our logistics customers all the way from planning their short and long-haul logistics while ensuring vehicle safety and material integrity. We intend to leverage the new funds to expand our sales team and strengthen our research and development to accelerate our innovation roadmap," said Ravi Bulusu, managing director, Enmovil Solutions.
At present, Enmovil's solutions have been deployed across Hindustan Petroleum Corporation Limited(HPCL), Maruti Suzuki, Hero Motors, it said on Tuesday.
“OEM Logistics has an immense promise which is yet to be explored and disrupted, Ravi and his team have a strong vision to commission the narrative. Enmovil is fast becoming a leader in the OEM logistics industry and is addressing the inefficiencies for better optimization on all fronts," said Ashvin Chadha, co-founder, Anicut Angel Fund.
Earlier, Enmovil had raised roughly ₹3 crore from Emergent Ventures.
“Enmovil is one of the few players across the logistics and transportation industry that is solving for inefficiencies across the entire logistics value chain from plant/yard/field to first/last mile optimization - with its unique multi-modal SaaS-based solution. Being the first institutional investor to back Enmovil in its initial stages, Ev2 Ventures has witnessed the company grow from monitoring 500 vehicles to over 20,000 vehicles, supporting marquee clients such as HPCL, BPCL, Maruti Suzuki etc," Karan Mittal, partner, Ev2 Ventures (Formerly Emergent Ventures).
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