Ahmedabad-based logistic IoT startup, Locanix has received a funding of Rs 2 crore from investors including senior executives at investment bank Goldman Sachs and technology company Cisco.
“The money will be used for further scaling up,” said Ruchit Surati, Co-Founder, Locanix.
The three-year-old startup used GPS tracking to provide innovative logistic solutions that help improve safety, security and operational efficiency.
The startup began with door-to-door marketing and has bagged clients like DSK Toyata, Sadbhav Engineering and Amul.
It has partnered with truck manufacturer Mahindra & Mahindra’s truck & bus division (MTBD).
Source: The Economic Times
