Elixia Tech secures USD 1 million in Pre-Series A funding
Rajasthan Venture Capital Fund (RVCF) put their weight behind Mumbai based Elixia Tech to scale up ultra-modern supply chain technology solutions
Mumbai : Mumbai headquartered Supply Chain tech-based startup, Elixia Tech Solutions Ltd, has secured USD 1 million in its Pre-Series A funding led by RVCF and other angel investors. With this investment, Elixia Tech is planning to scale up its presence in both domestic and international markets.
Sanket Sheth founded Elixia Tech with an ambition to better the logistics sector in the country by introducing high-end technological innovations in the field of supply chain. Elixia Tech had introduced its first product in Vehicle Telematics space, followed by a completely digital and efficient suite of supply chain solutions, under the umbrella of Supply Chain Control Tower. It provides interlinked softbots for all segments of logistics, warehouse and inventory that control supply chain planning and execution to reduce costs and bring visibility for goods in-transit and provide actionable business intelligence using Machine Learning.
Announcing the investment, Elixia Tech’s Founder, Mr. Sanket Sheth added, “This is a very important milestone. While supply chains have evolved from on-ground manual operations to something as advanced as digital twins, majority of companies are still stuck somewhere in between. With the world going through the impact of external changes, it has now become even more imperative to bring in real-time visibility, optimization & transparency in the supply chain. Thus, I believe that now is the right time and the right place to get the right products to make waves in the Indian as well as Global Logistics Market.”
The investment round was led by RVCF. Gaurav Chowdhry, VP, RVCF said, “The growth of supply chain is majorly dependent on the growth of supply chain software solutions market. Supply chain solutions give the power and visibility to monitor processes, identify the exact underperforming areas and gain reliable data-driven insights to efficiently run operations. We are truly impressed with Elixia’s management team, their commitment to providing new-age solutions and impressive growth..”