JITO Incubation and Innovation Foundation (JIIF), the community-based angel network in India, has led the $1 million pre-Series A funding round for the logistics automation startup, Elixia and its Indian subsidiary, Elixia Robotics.
The other marquee investors, Motilal Oswal (Motilal Oswal Financial Services), Vimal Shah (Bidco Oil), Sparsh Jain (JG Group), Vinod Dugar (RDB Group) and Vimal Khinvasara (WMA Group). Additionally, Ashok Shah (V-Trans Group), Amit Chandwar (K M Trans Logistics), Om Jain (Just Call) and Hiren Kapasiawala have also invested in the startup.
888VC has also co-invested with JIIF in Elixia Robotics.
The new funds will be used to expand in the Middle East, delivering advanced logistics solutions tailored to regional businesses. This investment will also enhance their product portfolio by incorporating Generative AI and Machine Learning to improve multimodal visibility and operational efficiency.
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.”
Sanket Sheth, Founder of Elixia, added, “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 USD 1 million investment is a testament to the belief our investors have in our vision to reshape logistics for the modern world.”
Founded by Sanket Sheth in 2022, the startup specialises in providing comprehensive software solutions that empower businesses to streamline their supply chain operations.
With a client roster that includes industry leaders such as Flipkart, Hershey’s, Pidilite, and UPL, Elixia is poised for significant growth. As per PwC, AI could contribute up to $15.7 trillion to the global economy in 2030 and the largest gains are expected to accrue to Saudi Arabia where AI is expected to contribute over US$135.2 billion in 2030 to the economy, equivalent to 12.4% of GDP.
