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Logistics automation startup Elixia Robotics raises $1 million in a pre-Series A funding round

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  • Elixia Robotics, a logistics automation startup founded in 2022 by Sanket Sheth, has secured $1 million in a pre-Series A funding round led by the JITO Incubation and Innovation Foundation (JIIF), with participation from notable investors such as Motilal Oswal and Vimal Shah.

  • The funding will be used to expand Elixia’s operations into the Middle East, where the company aims to offer advanced logistics solutions tailored to the needs of regional businesses.

  • Elixia plans to enhance its software solutions by integrating generative AI and machine learning technologies to improve logistics automation, multimodal visibility, and operational efficiency.

  • The investment reflects both investor confidence in Elixia’s vision to innovate supply chain management and JIIF’s commitment to fostering early-stage companies utilizing AI technologies.

  • Stakeholders emphasize the importance of AI in transforming industries, with a focus on delivering data-driven insights to enhance logistics management for businesses.

Logistics automation startup Elixia Robotics has raised $1 million in a pre-Series A funding round. The funding round was led by the JITO Incubation and Innovation Foundation (JIIF), a community-based angel network.

The round also saw participation from prominent investors such as Motilal Oswal (Motilal Oswal Financial Services), Vimal Shah (Bidco Oil), Sparsh Jain (JG Group), Vinod Dugar (RDB Group), Vimal Khinvasara (WMA Group), Ashok Shah (vtransgroup), and Amit Chandwar (K M Trans Logistics).

JIIF, which is dedicated to supporting early-stage companies, has invested in over 80 startups.

Founded in 2022 by Sanket Sheth, Elixia provides comprehensive software solutions to streamline supply chain operations, including transport management systems and logistics control towers.

Expanding into the Middle East

Elixia Robotics aims to use the newly raised capital to fuel its expansion into the Middle East. The startup aims to deliver advanced logistics solutions tailored to the unique needs of businesses in the region. 

This geographical expansion will help Elixia tap into a growing market with demand for more efficient supply chain management tools.

Focus on AI and Machine learning integration

Elixia plans to enhance its product portfolio by integrating generative AI and machine learning technologies. These cutting-edge innovations are expected to significantly improve the company’s logistics automation capabilities, particularly in multimodal visibility and operational efficiency.

The inclusion of AI-driven solutions will provide real-time business insights, allowing for more transparent and efficient logistics management.

“This new investment will enable us to expand our product portfolio with Generative AI capabilities and enhance multimodal visibility for our customers. In a world where time is money, we empower businesses to save both by streamlining their supply chains with data-driven solutions. The $1M investment is a testament to the belief our investors have in our vision to reshape logistics for the modern world,” Sanket Sheth said.

Rajat Mehta, Chairman of JITO Incubation and Innovation Foundation, said, “As AI drives the future, our investment in Elixia is part of our effort to harness its full potential and stay at the forefront of innovation. AI is transforming industries globally, and we are committed to contributing to its growth.”


Here’s a structured summary of the information provided in the text:

Startup Information

  • Startup Name: Elixia Robotics
  • Founded: 2022
  • Founders: Sanket Sheth
  • Industry: Logistics Automation
  • Product Offerings: Comprehensive software solutions for supply chain operations, including transport management systems and logistics control towers.

Fundraise Information

  • Funding Amount: $1 million
  • Funding Round: Pre-Series A
  • Use of Funds: Expansion into the Middle East and enhancement of product portfolio with Generative AI and machine learning technologies.

Investors

  • Lead Investor: JITO Incubation and Innovation Foundation (JIIF)
  • Other Notable Investors:
    • Motilal Oswal (Motilal Oswal Financial Services)
    • Vimal Shah (Bidco Oil)
    • Sparsh Jain (JG Group)
    • Vinod Dugar (RDB Group)
    • Vimal Khinvasara (WMA Group)
    • Ashok Shah (vtransgroup)
    • Amit Chandwar (K M Trans Logistics)

Additional Information

  • Investing Focus of JIIF: Supports early-stage companies and has invested in over 80 startups.
  • Comments from Key Individuals:
    • Sanket Sheth: Emphasized the importance of the investment for expanding product offerings and streamlining supply chains.
    • Rajat Mehta (Chairman of JIIF): Mentioned the commitment to harnessing AI’s potential and contributing to its growth in the logistics industry.

This structure organizes the details about Elixia Robotics, its funding round, investors, founders, and future plans clearly and effectively.

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