Pranav Kiran · · 1 min readTVS Motor invests $3.85m in Indian logistics startup TagBox
Indian automaker TVS Motor Company led a series A funding round for Bengaluru-based logistics tech startup TagBox, investing US$3.85 million.
“Our current investment in TagBox is part of the initial set of investments being made in strategically relevant digital startups,” said Rajesh Narasimhan, board member of TVS Motor Company and CEO of TVS Motor Singapore.
Photo credit: urfingus / 123RF
TagBox, which was established in 2016, plans to use the proceeds from the funding for research and development and to expand its footprint globally. It also said it will develop analytics and automation solutions for different applications of its products.
According to its website, TagBox’s solutions help monitor package conditions such as temperature, humidity, vibration, and light in real time. Its customers include drugmakers as well as food, dairy, and ecommerce companies.
Editing by Charmaine de Lazo
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