Logistics start-up Fortigo Network said it has secured $10 million in its Series A funding round. The funds were raised from existing investors Infosys co-founder Nandan Nilekani and Accel Partners.
The company said it plans to use the funds to enhance its technology platform as well as fuel the expansion of its truck network across the country. “With this funding, we will be able to extend the Fortigo Network to a pan-India level,” said Anjani Mandal, co-founder and chief executive of Fortigo Network, in a statement.
Cloud platform
Fortigo said using its cloud-based platform, consignors, consignees, fleet owners, transport companies and agencies can exchange information, transact and manage entire business. The firm said its freight exchange platform is enabled with live transaction and electronic payments.
