Nyletech, a Bengaluru based startup that provides IoT driven solutions for end-to-end transport management, has raised Rs 2 crore from Dallas, Texas headquartered Novigo Solutions. Novigo will pick up a 40% stake in the startup, a top company official told TechCircle.
The investment will enable Novigo Solutions to accelerate its cloud and digital strategy. It will also leverage Nyletech’s solutions to help large enterprises manage the complexities of their transport operations.
Founded in 2012 by Mohammed Hanif, Mohammed Jarood Musthafa, Praveen Kumar Kalbhavi, and Shihab Kalandar Mohammad, Novigo Solutions is an end-to-end information technology (IT) solutions provider, specialised in full cycle IT services and platform solutions.
The company had unveiled its first development centre in Mangaluru in 2012. Three years later, it opened its second development centre in Bengaluru, and in 2017 it acquired Bengaluru-based e-content services provider Karanji Infotech. It currently employs over 300 people, with most of them working from their development centres in these two cities.
“This deal will help us align our solutions with that of Nyletech’s offerings in the growing Indian transportation and logistics market, which is expected to further consolidate owing to the digital push and continued reforms pursued by the Indian government,” Praveen Kumar Kalbhavi, co-founder and CEO of Novigo Solutions, told TechCircle.
Nyletech, founded in 2015 by Hammad Basheer and Sameer Shaik Ahmed, helps its customers manage the complexity of their transport operations by automating their employee and vehicle trip management.
Nyletech’s solutions include employee transport management system (ETMS) and vehicle tracking system (VTS) that are widely used by enterprises across Bengaluru, Chennai, Hyderabad, Pune, Noida, and the Middle East, it said.
ETMS solutions is the routing solution that enables planning and managing shortest path based pick up and drop sequence, whereas VTS provides critical vehicular information like location, speed, mileage, as well as ignition status.
The startup currently operates from Bengaluru and has offices in Chennai, Hyderabad, and Mangaluru.
“The deal will help us optimise the platform for transport operations. Our technical team has been working closely with Nytelech engineers over the past 6 months to re-engineer the platform using modern open source technology on a strong microservices architecture,” Kalbhavi said.
This deal will also help Novigo to further serve the enterprises across the region where it operates – USA, Singapore, KSA, UAE and India.
Novigo counts technology giant Microsoft, software firm Unisoft, and end-to-end IT solutions provider KloudHive, among others, as its partner.
Kalbhavi also said that Novigo is the only UiPath services network (USN) certified partner in India, for robotic process automation (RPA) company UiPath.