LogiNext is seeking to raise as much as $100 million in a funding round that could value the Tiger Global-backed logistics software startup at about $800 million, according to a person familiar with the matter.
(Bloomberg) — LogiNext is seeking to raise as much as $100 million in a funding round that could value the Tiger Global-backed logistics software startup at about $800 million, according to a person familiar with the matter.
The US-based firm, which also counts China’s Alibaba Group Holding Ltd.
as a backer, will look to raise $80 million to $100 million for its Series C round to expand globally, the person said, asking not to be named as the information is private.
Founded in 2015, LogiNext uses algorithms to help predict estimated shipping times and prices as well as organize fleets.
It’s seeking to raise funds at a difficult time for tech startups — global venture funding fell to its lowest level in quarters in the past three months, according to CB Insights.
Deliberations are ongoing and details such as the size of the funding round and the startup’s valuation could change, the person said.
A representative for LogiNext declined to comment.
Based in New Jersey, the software startup is operating in more than 50 countries, including India, Singapore and Indonesia. It counts companies such as Alibaba, Singapore Post Ltd.
and Decathlon UK Ltd. among its clients. In 2020, the company raised $39 million in a funding round from investors including Tiger Global and Steadview Capital.
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