Bengaluru-Based Logistics SaaS Mojro Raises $3M
Mojro, a Bengaluru-based logistics management SaaS platform, has raised $3 million in a funding round led by IAN Alpha Fund. The company provides an AI-powered platform to solve complex logistics optimization problems for mid-sized Indian enterprises. Mojro's strategy involves using founder-led, proof-of-value pilots to secure early customers.
- The company was founded in 2016 by a team of three: Kishan Ashwath (CEO), Amit Kulkarni (CTO), and Ranganath Seetharamu (COO). - This latest round brings Mojro's total funding to $3.62 million, raised across 8 rounds since its inception. - The lead investor, IAN Alpha Fund, is a $100 million early-stage venture fund from the IAN Group that focuses on technology-led startups in sectors like AI, DeepTech, and CleanTech. - Mojro is targeting a significant market, as the Indian logistics market was valued at $215 billion in 2020 and is projected to grow at a CAGR of 10.5%. - The new capital is earmarked for international expansion into the US and Southeast Asia, which already account for over 60% of the company's revenue. - Mojro's product suite is broken into specific modules, including PlanWyse for optimization, ExecuteWyse for real-time monitoring, GeoWyse for geocoding, and PackWyse for 3D load optimization. - The company operates in a competitive space, with key competitors including Freight Tiger, Ripplr, Locus, and Bringg. - Mojro reports that its AI-driven platform can help enterprises reduce logistics costs by up to 20% and demonstrate value within 90 days of implementation.
