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Paytm to invest USD 10 mn in logistics data firm LogiNext
Mobile commerce platform Paytm said it is investing USD 10 million in logistics data start-up company, LogiNext. The move is in line with Paytm's strategic plan to invest USD 150 million in a dozen Indian tech start-ups over the next few months, the company said in a statement.
"While large logistics companies have great in-house tech capabilities, smaller players have limited access to good technologies. To solve this, we are building a strong logistics cloud network for our merchants and courier partners," said Kiran Vasireddy, Senior Vice President at Paytm.
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"LogiNext's real time big data analytics platform will help courier companies to bring in more efficiency in their delivery network by route optimization and real-time tracking of their resources," he added. LogiNext is a privately held big data analytics start-up backed by Indian Angel Network.
At present, LogiNext serves customers in the medium and large enterprise bracket. It uses technology to provide real-time visibility and optimization solutions to logistics companies and helps in avoiding delays, incorporating transparency, real-time tracking to get insights about moving assets, distribution networks, inventory and supply chain.
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Consumer brand of India's leading mobile internet company One97 Communications, Paytm's investors include Ant Financials (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.
Source PTI
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99,999
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1,29,999
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69,999
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41,999
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64,999
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99,999
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29,999
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63,999
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39,999
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1,56,900
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79,900
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1,39,900
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1,29,900
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65,900
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1,56,900
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1,30,990
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76,990
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16,499
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30,700
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12,999
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11,999
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16,026
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14,248
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14,466
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26,634
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18,800
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62,425
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1,15,909
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93,635
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75,804