Elixia Tech Solutions, a Mumbai-based supply chain company, has raised $1 million in a pre-Series A investment. The money will be utilized to expand the company’s reach in both domestic and foreign markets.
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Elixia Tech Solutions funding news
Elixia Tech Solutions Ltd, a Mumbai-based supply chain company, has secured $1 million in a pre-Series A investment round headed by Rajasthan Venture Capital Fund (RVCF) and other angel investors.
Elixia will use the money to expand its footprint in both domestic and foreign markets, according to the official announcement.
Sanket Sheth founded Elixia Tech in 2011 intending to improve the logistics sector by integrating high-end technology advancements in the realm of the supply chain. The company offers a variety of goods and services to meet supply chain and logistics demands.
Vehicle tracking, warehouse monitoring, a full transport management system, fleet management, records management, an end-to-end logistics command center, distribution and sales and marketing, and more are among the company’s solutions.
Sanket commented on the change, stating that real-time visibility, optimization, and integrity in the supply chain are now critical.
“This is a significant turning point. While supply chains have progressed from on-the-ground manual operations to digital twins, the bulk of businesses remain caught in the middle.
“With the globe experiencing the effects of external changes, real-time visibility, optimization, and transparency in the supply chain has never been more important.” As a result, I feel that now is the ideal moment and location to acquire the proper goods to make ripples in the Indian [and] worldwide logistics markets,” he added.
Under its supply chain control tower, the firm launched its first product in the vehicle telematics area, followed by the launch of a digital and efficient suite of supply chain solutions (SCT).
It offers interconnected softbots for all aspects of logistics, including warehousing and inventory management, to regulate supply chain planning and execution and minimize costs. It also assures visibility for items in transit and uses machine learning to give relevant business analytics.
“The expansion of the supply chain software solutions industry is critical to the growth of the supply chain. Supply chain solutions provide you with the capability and visibility to monitor processes, pinpoint failing areas, and get trustworthy data-driven insights to manage operations more effectively. In a statement, Gaurav Chowdhry, VP, RVCF, stated, “We are extremely delighted with Elixia’s management team, and their dedication to offering new-age solutions and outstanding growth.”