AHMEDABAD: Ahmedabad-based logistic IoT startup Locanix has received a funding of Rs 2 crore from investors including senior executives at investment bank Goldman Sachs and technology company Cisco "The money will be used for further scaling up," said Ruchit Surati, cofounder, Locanix.The three-year-old startup used GPS tracking to provide innovative logistic solutions that help improve safety, security and operational efficiency.The startup began with door-to-door marketing and has bagged clients like DSK Toyata, Sadbhav Engineering and Amul.It has partnered with truck manufacturer Mahindra & Mahindra's truck & bus division (MTBD).

Source: Economic Times June 28, 2016 00:11 UTC