LogiNext, which is a transportation and automation startup, has now secured $39 million in the funding round of Series B led by the SteadView Capital, Tiger Global Management, and Marquee Investors.
After this round, the valuation of the startup stands at roughly $100 million.
According to the company, it will be using the funding to commerce operations at new locations as it plans to double the workforce, especially across its R&D function.
LogiNext last secured $10 million as a part of its Series A funding round led by the Indian payments giant Paytm and Alibaba.
Speaking about the platform, LogiNext CEO Dhruvil Sanghvi, said,
“In the global trend of transportation and eCommerce, we believe that we have got the right timing. End customers, be it consumers or businesses, are expecting things to reach them faster than ever, and our technology platform can help enterprises do just that. We believe we have built the right team and the right business model to help us scale to the next level from here.”