Fortigo Logistics bags “Series-A” funding

Logistics startup Fortigo has recently raised Series A funding round of $10 Million. The participants in the round were Accel India and Nandan Nilekani Co-founder at Infosys. Prior to this the startup has already raised a seed round of $2 million in 2015.

The Startup is based out of Bangalore and was founded in 2015 by Vivek Malhotra & Anjani Mandal. Fortigo currently serves various industries such as wholesale, grocery, telecommunications, and waste.

According to the CEO Vivek Malhotra, “Fortigo currently has a fleet size of about 6,500 trucks and that is exoected to go upto 50,000 trucks by next year. Fortigo is currently developing its own fleet management platform that will assist truck onwers to manage their fleet with more efficiency and cut down operating expenses.”

The fresh funds now raised will be utilized to expand its current fleet size of trucks, investment in developing its core technology product further and get small and medium-sized fleet owners onboard on the platform.

Subrata Mitra, one of the partners at Accel Partners India said, “With the proposed GST coming up and growing digital currency in business transactions, Fortigo Network is expected to play a major role in transforming the unorganized sector. As India’s only freight exchange enabled with transactions, Fortigo also provides unique value-adds including electronic payments at primary as well as secondary levels.”


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