Enmovil Solutions, the Hyderabad based logistics tech start-up, has raised Rs 10 crore in pre-Series-A funding round, led by Anicut Angel Fund, KCT Group, Blackbird Investments and RB Investments.
The new capital will be used for boosting innovation to deliver advanced technology solutions for field and yard logistics, the Hyderabad start-up said. In the seed funding round, Enmovil had raised Rs 3 crore from Emergent Ventures, the start-up said in a statement on Thursday.
Founded in 2015 by Ravi Bulusu, Nanda Kishore and Venkat Moganty, Enmovil delivers an original equipment manufacturer (OEM)-centric multi-modal logistics technology platform optimising end-to-end operations for field and yard logistics using machine learning-driven algorithms.
The start-up boasts of Hindustan Petroleum, Maruti Suzuki and Hero Motorcorp, among other large corporates, in its client list who uses its hardware and software solutions to optimise their end-to-end logistics, Ravi Bulusu, co-founder and managing director of Enmovil said. Bulusu added that the OEM logistics is a USD 40-billion opportunity, most of which is now untapped.