Mumbai, Jun 10 (PTI) Logistics management software firm Kale Logistics has raised USD 5 million (about Rs 36 crore) in Series A funding round led by tech-focused VC fund Inflexor Ventures, a release said on Thursday.
The company aims to utilise the fresh capital in product enhancement and global business growth by deploying the solution at additional overseas airports, ports and enterprise cargo handling points, it added.
The company's flagship product UPLIFT is a cargo community platform for airports and seaports, which facilitates cross border commerce and cargo digitisation.
The USD 5-million Series A round was led by Inflexor along with participation from the existing investors, the release said.
From Fund II, Inflexor has since November last year invested in four companies, including Steradian Semiconductors, PlayShifu and Vitra.ai, it noted.
Amar More, Vineet Malhotra, and Rajesh Panicker, who co-founded Kale Logistics along with industry pioneers Narendra Kale and Vipul Jain, the ex-founders of Accelya Solutions (formerly known as Kale Consultants), form the management team at the company.
“This is our first fund-raise 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,” Vipul Jain (Chairman and Co-founder), Kale Logistics said.
The 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 company said.
The solutions enable collaboration in real-time while providing end-to-end visibility of every process and shipment, it stated.
“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,” More said.
The company is led by a stellar team with demonstrated capabilities of executing a global go-to-market strategy, 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,” he added. PTI IAS BAL