Archive: June 1, 2022

JITO Angel Network backs observability platform KloudMate in pre-seed round

India, May 2022: JITO Angel Network (JAN), the only global community-based Angel network in India, has invested an undisclosed amount in observability platform KloudMate in a pre-seed funding round, keeping with its pledge to support the Indian start-up ecosystem at the very early stages of their development.

KloudMate, a deep tech platform founded by Amitava Saha, Pranab Buragohain and Bidyut Baruah, detects performance bottlenecks in serverless applications, identifies errors and helps developers fix issues in a matter of minutes, instead of hours.

Serial investors such as 2am VC, LetsVenture, KRS Jamwal (Tata Industries), Founder’s Room Capital, Quattro Ventures, Anoop Mathur (CORE Media Group), Jaydeep Deshpande (Google Cloud), Mayur Zanwar (TruScholar.io) and Yagnesh Sanghrajka (100X.VC) joined JAN in this funding round.

“Our commitment to back early-stage startups solving real problems has found a home once again as we invest in KloudMate. Kloudmate’s unique solution, vision of its founders and its overall business structure is what drew us to the startup,” said Pooja Mehta, CIO, JITO Angel Network. “We are as much confident of its success as a tech. solutions provider, as we are excited in starting this new journey with them.” 

Pranab Buragohain, Co-Founder, KloudMate said, “Serverless and Microservices architectures are rapidly growing technologies of the future. KloudMate (backed by 100X.VC), with its observability and machine learning capabilities, aims to solve some major challenges that these frameworks pose to developers. The company will use the funds to further develop the platform and rapidly scale it, over the next few months.” 

“JITO Angel Network was among the first to endorse and support our vision of KloudMate. Their decision making and funding process was lightning fast, and that was crucial for an early stage startup like us. We’re very excited to partner with them in this journey.” he added. 

JAN has been at the forefront of boosting the funding ecosystem for early stage innovative start-ups in the country. In FY22, the network invested around INR 47 crores in fresh as well as follow-on investments in as many as 28 start-up companies. The investments supported companies with strong products and services in different early stages of funding.

Jujhar Constructions & Travels Private Limited On a Growth Trajectory, Momentum to Continue

India, June 2022: Jujhar Constructions & Travels Private Limited is the flagship of the Jujhar Group, offering car carrier logistics and luxury passenger travel services achieved a 36% increase in EBITDA for the fiscal year 2021-22. Breaking all previous records, the company’s revenue increased by 30 percent over the previous year. The company has been providing incomparable logistics services across Pan India.

According to recent reports, India’s logistics market was around 250 billion US dollars in 2021. It is now estimated to grow up to the level of 380 billion US dollars by 2025. Another report by the World Economic Forum analysis indicates that by 2025 the digital transformations in the logistics industry will be valued at $1.5 trillion. India’s logistics and supply chain firms simplify and eliminate most of the transportation problems for the industry. Logistics firms are responsible for organizing, managing, storing, and hauling from the producer to the consumer. It is a commercial method that allows for the cost-effective movement and storage of goods from producer to customer.

Commenting on this achievement, S. Gurdeep Singh CMD, Jujhar Group said “Being one of the largest car carrier service providers in India, our focus has been to provide appropriate solutions while maintaining utmost efficiency to our customers. We believe in combining responsiveness and competence for delivering excellence. Y-O-Y we replace 20 to 25 % of our vehicles to ensure that there is no compromise on safety and productivity. After seeing tremendous growth this year, we are looking at a CAPEX of around Rs. 180 million in the next financial year. Of this, about Rs 180 million will be spent on containers and trucks & buses.

“Recently we made an investment of Rs 174 million and bought 70 numbers new trucks from Tata Motors for fulfilling the growing demand of transport requirement of the logistics industry in the region and enhancing our delivery capabilities ”, he added.

Jujhar Logistics has one of the largest fleets of over 375 commercial vehicles for logistics services across PAN India, with over 25,000 km of route permits. JCTPL has state-of-the-art workshop and fabrication facilities in Gurgram and is one of the largest logistic providers, employing over 650 persons. With the latest logistics tracking and automated software, the company is also consistently rated at the top by reputed vehicle manufacturers like Maruti, Tata, Hyundai, Kia, Toyota, etc.