India-based Fortigo, a logistics services provider that will soon be launched by technology industry executives Vivek Malhotra and Anjani Mandal, is in talks with Nandan Nilekani, Infosys‘ co-founder, to raise $2 million in seed funding, according to an Economic Times report citing sources.
Other investors like Accel Partners is also expected to participate in the round.
Fortigo will be providing the trucking services and will target small and medium-sized businesses and truck owners with relatively smaller-sized fleets.
It will help truck owners manage and track their inventory more efficiently and help save logistics cost also. Through the startup, the truck drivers can plan their journeys and can reduce the delays in transportation.
Both Malhotra and Mandal are ex-employees of tech firm Headstrong. Mandal has over two-and-a-half years of experience in IT & BPO and manufacturing and Mandal has over three decades of experience.
Mandal holds a post graduate diploma in business management from IIM, Calcutta and Malhotra holds a BTech in Aerospace Engineering from IIT, Kanpur.
Nilekani, the former UIDAI chairman, has also backed mobile balance tracking startup Mubble and mobile publishing startup Juggernaut.
In June, he led a Rs 100 crore ($15.3 million) round in Cafe Coffee Day (CCD) which is run by Coffee Day Enterprises Ltd.
The online logistic sector continues to raise funding from industry veterans. Most recently, on-demand logistics startup Instavans raised money from Dell’s Suresh Vaswani.
Early last month, Quifers raised $308k from IAN and Smile Group. In June, Moovo received money cricketer Yuvraj Singh’s fund YouWeCan Ventures and prior to that in May, theKarrier, an intra-city aggregator for mini trucks, raised Rs 1.5 crore ($229.8k) from Sol Primero, Outbox Ventures and Nikunj Jain.