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IP Ventures invests in logistics startup Intugine

Intugine Technologies, which is a Bangalore based company, has now secured an undisclosed amount of funding from the Angel investors of IP ventures.

The company as of now has a plan to deploy its core operations and also expand its sales team, according to the report which has been revealed.

The startup which is founded by the Ayush Agrawal, Mrinal Rai, and Harshit Shrivastava, a team of IIT Kharagpur dropouts, Intugine is developing technology infrastructure for transportation with the help of Internet of Things to make marketplace fleet technology tracking cheaper and more comfortable.

The company claims to reduce the billing cycle from 2.5 months to 2.5 weeks, which even enables faster payment transfers to the shipper.

“At Intugine, we are working towards digitizing the highly unorganized logistics space,” said Harshit Shrivastava, co-founder and CEO of Intugine. “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 IPV’s 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.

Source: Intugine

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