The new infusion of capital will be utilized to boost their innovation journey to deliver first in Industry, advanced technology solutions for field and yard logistics.
Enmovil Solutions Private Limited, a Hyderabad based logistics tech start-up, announced today that it has raised a total of INR 10 Cr in Pre-Series A funding led by Anicut Angel Fund. The company also saw participation from KCT Group, Blackbird Investments Pvt. Ltd. and RB Investments in this round. The new infusion of capital will be utilized to boost their innovation journey to deliver first in Industry, advanced technology solutions for field and yard logistics.
Founded in 2015 by Ravi Bulusu, Nanda Kishore and Venkat Moganty, Enmovil delivers an OEM centric multi-modal logistics technology platform optimising end-to-end operations for field and yard logistics. Enmovil’s “autometrics” uses ML driven algorithms that leverage the power of IoT and super-integration of data from diverse unstructured sources to automate material and fleet movement from warehouse to the dealer. The company is witnessing a significant growth in adoption of its solution with the pan-India deployment of their hardware & software solution by industry giants such as HPCL, Maruti Suzuki, Hero Motors to name a few for their end-to-end logistics optimization.
Speaking about the funding, Ravi Bulusu, Managing Director, Enmovil Solutions Private Limited said, “We are absolutely thrilled to have the new investors onboard our growth journey. Enmovil is scaling up as the unique solution provider for OEM logistics. Our AI driven platform empowers our logistics customers all the way from planning their short & long haul logistics while ensuring vehicle safety and material integrity. We intend to leverage the new funds to expand our sales team and strengthen our R&D to accelerate our innovation roadmap. ”
Speaking on the investment in Enmovil, Ashvin Chadha, Co-founder, Anicut Angel Fund, said, “OEM Logistics has immense promise which is yet to be explored and disrupted, Ravi and his team has a strong vision to commission the narrative. Enmovil is fast becoming a leader in the OEM logistics & tech industry and is addressing the inefficiencies for better optimization on all fronts. I wish Ravi and team the very best in their journey and to rewrite the narrative in the industry.”
“Even though OEM logistics is close to a $40 Billion opportunity it remains underserved and has seen limited tech disruption. Enmovil’s product is highly modular and provides consolidated analytics across all logistics channels. The fact that their software can be easily integrated into any hardware for data collection and analytics is a big advantage for customers. Ravi’s passion and on-ground knowledge regarding the segment and pain points of OEMs further strengthened our confidence in the company. We wish Ravi and the team the very best in their journey and look forward to working closely to build a sustainable business.” Varun Thapar, KCT Group
Rakshit Goyal, Director, Blackbird Investments Private Limited said that “Our aim is to be invested in startups with innovative technology and disruptive ideas that can be implemented not only in India but across the globe. The vision of Enmovil and its founders matches with that of ours in terms of creation of impressive and disruptive technology that will have far reaching benefits across sectors. Enmovil is set to disrupt logistics technology in ways that were always desired but never thought to be possible.”
“We are confident that journey of Enmovil which has started as a logistics technology solution provider will evolve into end-to-end multimodal logistics technology partner for major OEMs of automotive, heavy and precision industries enabling them to make best use of technology, real time tracking and efficient warehousing and supply chain management, helping them to transform into the Amazons & Flipkarts of their industry verticals under the capable leadership of Ravi & the founding team. We are extremely excited to be part of their growth story.” Shammy Wong, RB Investments
“Enmovil is one of the few players across the Logistics & Transportation industry that is solving for inefficiencies across the entire logistics value chain from plant/yard/field to first/last mile optimization – with its unique multi-modal SaaS based solution. Being the first institutional investor to back Enmovil in its initial stages, Ev2 Ventures has witnessed the company grow from monitoring 500 vehicles to over 20,000 vehicles, supporting marquee clients such as HPCL, BPCL, Maruti Suzuki etc. Enmovil is led by a stellar founding team and we are extremely excited to welcome new investors to help grow Enmovil further.” Karan Mittal, Partner, Ev2 Ventures (Formerly Emergent Ventures)
In its seed funding round, Enmovil had raised around INR 3 Cr from Emergent Ventures.
Source: Business World