LogiNext, a US-based field-service management software provider backed by e-commerce group Alibaba and digital payment technology producer Paytm, has raised $39m in series B funding, DealStreetAsia reported today.
The capital was supplied by investment firm Tiger Global Management and asset manager Steadview Capital at a reported valuation of almost $100m. The round came in the wake of a $10m series A featuring Alibaba and Paytm in 2015 and boosted LogiNext’s overall funding to $50m.
Founded in 2014, LogiNext has created a software platform that automates logistics processes such as the management of orders and storage capacity, dispatching, data analytics and post-delivery order processing.
The series B proceeds will support strategic acquisitions, as LogiNext looks to beef up its work with retailers and large supermarket chains as well as fast food restaurants, express couriers and logistics service providers.
The company entered talks with earlier this month to acquire fellow field-service management software provider FieldEZ. It is also exploring the opening of offices in the US, UK and Australia.
LogiNext has now raised $50m altogether, according to DealStreetAsia. It participated in GenNext Innovation Hub, the accelerator established by diversified conglomerate Reliance Industries, in 2015.
