Infosys co-founder and former UIDAI chairman, Nandan Nilekani, likes putting his money in prospective businesses. Having mastered the art of mentorship from his own guru, NR Narayana Murthy, Nilekani is presently in the process of supporting yet another early-stage venture, Fortigo. The start-up is likely to be launched by technology industry executives, Vivek Malhotra and Anjani Mandal.
This is not his first association with a new venture. Nilekani has already backed early-stage mobile payments start-up, Mubble, and mobile publishing start-up, Juggernaut. Nilekani is not the only sponsor. Fortigo is also engaged in discussions with other investors, including Accel Partners, to bring them onboard. Accel will decide on their involvement in a week’s time, sources have revealed.
Sources close to Fortigo say that the start-up is looking to is currently in talks to raise around $2 million in seed funding, not a difficult target at all in the present context.
According to insider knowledge, Fortigo will endeavor to do is resolve basic challenges in the trucking and logistics space. The idea is to develop the quality of transportation services to businesses.
“The potential of this idea appealed to Nilekani, who at this stage is looking to back ventures that can solve large problems and address painpoints,” informed a source.
Neither Malhotra and Mandal, nor Nilekani, have responded to these developments so far.
The fleet management service that Fortigo is building for truck owners will basically help truck owners manage and track their inventory more efficiently and help save logistics costs, while also helping truck drivers plan journeys more effectively and reduce the possibility of delays in transportation. Malhotra and Mandal came up with the idea for Fortigo about a year ago, and initiated talks with potential investors a few months ago.