Logistics Tech company MovingNow raises angel funding from a set of investors. This was led by a couple of big-ticket individual investments from NRIs giving them the
Most of the funds would be utilized to expand into new geographies in India. This would result in hiring additional staff and improve upon technology to correlate with the growing bandwidth.
Founding CEO of MovingNow Manish Datta says, “Logistics must be simple. We at MovingNow, inspired by the optimism of the internet era proudly take credit to be the pioneers in developing end-to-end online logistics solution using cutting-edge technology, right from the survey of your goods to the quote generation and payment facilitation to last mile delivery providing faster and accurate TAT, on-time delivery, real-time visibility
The rapid growth in infrastructure development witnessed in India owing to the meteoric economic progress has had a major influence on the logistics needs of the country both in terms of transportation and warehousing.
All the allied services that make up this sector are experiencing major technological and operational advancement to cater to this ever-growing demand. Pegged at US$ 160 billion, logistics services in India have been on rise clocking CAGR at 14% and expected to be $250 billion by 2020.
Anshul Srivastav, one of the major NRI investors in MovingNow would be advising on expansion in technology, as well as strategy to move to International markets. Alumni of IIM-B, Anshul also has to his credit advising and mentoring 150+ Startups across the globe from Silicon Valley to South East Asia including India and Middle East.