Prime Venture Partners invests in logistics-tech startup WheelsEye
One of the largest logistics tech startup WheelsEye has raised an amount of ₹7 crores ($1 million) in an investment round which is led by a premium investors that is Prime Venture Partners, a seed stage venture firm.
The funds raised will be used to refine the product, which is still in the early stages of development.
Gurugram-based WheelsEye was founded by Anshul Mimani and Manish Somani in 2017. This SaaS-based startup is leveraging technology to create smart and flexible transportation automation solutions.
The startup promises minimum guarantee levels for critical support, implementation, training & access to new released features. It uses data-driven decisions to enhance efficiency and lower costs for businesses.
Anshul Mimani, Co-Founder of WheelsEye, said, “Logistics is a layered industry, with multiple stakeholders. Effective prioritisation and application of data and technology will help improve efficiency in the industry.”
Shripati Acharya, a Managing Partner at Prime Venture Partners, said, “There is significant potential for technology to make logistics better and reduce wastage. There will be a number of opportunities to succeed in this sector, as it is not a ‘winner takes it all’ market.”
Other players competing with WheelsEye in logistics tech sector include Bengaluru-based LetsTransport, BlackBuck, Rivigo, among many others.
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