Infosys co-founder and former UIDAI chairman Nandan Nilekani is set to invest in another early stage startup called Fortigo, which aims to solve the logistics and transportation problems for small and medium businesses.
According to a report by ET, Fortigo is also in talks with Accel Partners for having them as their investors and the final decision regarding the same is expected to be taken by the end of this week.
What Fortigo will attempt to do is solve fundamental challenges in the trucking and logistics space the idea is to improve the quality of transportation services to businesses. And the potential of this idea appealed to Nilekani who at this stage is looking to back ventures that can solve large problems and address pain points faced by consumers,
said one of the two unnamed persons, who disclosed the above information to the ET.
He also mentioned that Fortigo is looking to raise $2 million in seed funding.
Fortigo is the brainchild of Vivek Malhotra and Anjani Mandal who are former technology executives of the firm Headstrong, which was acquired for $550 million by India’s largest BPO firm Genpact in 2011. Fortigo aims to provide technology-based solutions to truck owners for managing their inventories effectively and planning their operations and journeys effectively to save time and reduce transportation costs. It basically targets small truck owners with small-sized fleets for solving logistics issues of small and medium-sized businesses.
It will be the fourth investment of Nilekani this year with all the four being early stage startups. He has already invested in smart prepaid bill management app Mubble, publishing startup Juggernaut and aerospace startup Team Indus this year.
He has been actively involved in many startups and initiatives focussed on technology to solve common problems. Apart from being the former chairman of UIDAI, he has also chaired a committee for the National Highways in India, giving his inputs for building a more technology-savvy system for collection of highway tolls from large vehicles such as trucks.