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Logistics Tech Platform MovingNow Raises Angel Funding From a set of Individuals for its Unique Pricing Algorithm

twitter-logo PTI        Last Updated: February 25, 2019  | 17:12 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) HYDERABAD, India, February 25, 2019/PRNewswire/ -- Logistics Tech company MovingNow raises angel funding from a set of investors listed on Startuplanes. This was led by a couple of big ticket individual investments from NRIs giving them the honour of receiving FDI in the angel round. MovingNow has introduced a unique pricing algorithm for their B2C business which they have filed for patent that makes it simple for the users to place moving orders on the website. While B2B business is conducted on the mobile application on Demand/Supply mechanism. Most of the funds would be utilized to expand into new geographies in India. This would result in hiring additional staff and improve upon technology to correlate with the growing bandwidth. Founding CEO of MovingNow.in Manish Datta says, "Logistics must be simple. We at MovingNow, inspired by the optimism of the internet era proudly take credit to be the pioneers in developing end-to-end online logistics solution using cutting-edge technology, right from the survey of your goods to the quote generation and payment facilitation to last mile delivery providing faster and accurate TAT, on-time delivery, real-time visibility and tracking." The rapid growth in infrastructure development witnessed in India owing to the meteoric economic progress has had a major influence on the logistics needs of the country both in terms of transportation and warehousing. CEO of Startuplanes, Shishir Gupta says, "MovingNow is disrupting the logistics space through cutting-edge technology. I recommended Manish to immediately file the patent when I first heard the innovation that MovingNow has brought in. It is certainly a promising Startup that is rapidly growing." All the allied services that make up this sector are experiencing major technological and operational advancement to cater to this ever-growing demand. Pegged at US$ 160 billion, logistics services in India have been on rise clocking CAGR at 14% and expected to be $250 billion by 2020. Anshul Srivastav, one of the major NRI investors in MovingNow would be advising on expansion in technology, as well as strategy to move to International markets. Alumni of IIM-B, Anshul also has to his credit advising and mentoring 150+ Startups across the globe from Silicon Valley to South East Asia including India and Middle East. Disrupting the relocation and freight space with smart technology Offering solutions that are future-ready has been behind the meteoric rise of the logistics startup - MovingNow. An in-depth understanding of current market demands and the ability to unerringly deliver exceptional solutions that not only address this demand but are also geared for the future, has been their core expertise. With the world increasingly becoming more connected and adopting digital methods across all domains, the logistics sector offers a massive scope for a disruptive service to generate wider appeal and reach. MovingNow CTO Ashok adds, "The traditional trucking and transportation businesses listed on our platform have reaped immense benefits from the technological wave created by MovingNow. Going forward, a significant part of our platform would run on Blockchain technology that is under development currently with us." About MovingNow MovingNow started as a primarily B2C organization, offering a unique interface between consumers and Packers and Movers that uses cutting edge technology and in-depth analytics to automate the moving process and introduce greater operational efficiency. They have now expanded their operations to B2B sector, and boast of a range of illustrious clients. With their specialties in handling Over Dimensional Cargo (ODC) and managing Motorsport logistics, they have carved a niche for themselves in catering to the transportation and logistics of most of the racing teams in India. Clients have found MovingNow's services to be safe and extremely reliable, which is made possible by the proprietary technology that powers their platform, and their unparalleled dedication to reshaping and enhancing logistics services. With their user-friendly services and customer-centric philosophy in everything they do, MovingNow has emerged as a major disruptive platform for transportation and logistics services. Source: MovingNow PWR PWR

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