Logistics tech startup Kale Logistics has raised $5 million in Series A funding from Inflexor Ventures, a technology-focussed VC fund. The round also saw participation from other existing investors.
The startup aims to utilise the funding towards product enhancement and global business growth by deploying the solution at additional overseas airports, ports, and enterprise cargo handling customers.
In a statement, Inflexor stated that from Fund II, it has invested in four companies, including Steradian Semiconductors, PlayShifu, and Vitra.ai.
Pratip Mazumdar, Partner at Inflexor Ventures, said: “Our investment in Kale Logistics fits our thesis of investing in category-defining, enterprise-grade, vertical SaaS products addressing the global market. The company is led by a stellar team with demonstrated capabilities of executing a global go-to-market strategy."
"We believe Kale Logistics will play a pivotal role in radically transforming global cross-border commerce at airports and ports led by trade facilitation reforms initiated by the UN and various countries.”
The statement said the company's flagship product UPLIFT is a cargo community platform for airports and seaports, which facilitates cross-border commerce and cargo digitisation.
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Amar More, Co-founder, Kale Logistics, said, “Our community platforms for ports and airports have a huge opportunity with demand for digitisation accelerating at a fast pace. We are excited about having Inflexor as our investor partner as we move forward towards the next orbit of growth.”
Founded by Amar More, Vineet Malhotra, and Rajesh Panicker, Kale Logistics also has industry pioneers such as Narendra Kale and Vipul Jain, the ex-founders of Accelya Solutions, as a part of the core founding team.
Vipul Jain, Chairman and Co-founder, said:
“This is our first fundraise with an external investor and we are happy to partner with Inflexor because of the alignment of vision for the business and their understanding of the SaaS space. We are confident that they will add value to the company as we shift gears to a faster growth trajectory.”
The fund stated that the company's vision is to drastically reduce the complexities involved in the cargo logistics processing at airports, seaports, and customs checkpoints, using their cloud-native integrated platform and ERP solutions for all stakeholders in the logistics industry.
The solutions enable collaboration in real-time while providing end-to-end visibility of every process and shipment.
Edited by Megha Reddy
Link : https://yourstory.com/2021/06/funding-kale-logistics-series-a-investment-inflexor-ventures
Author :- Sindhu Kashyaap ( )
June 10, 2021 at 10:54AM
YourStory