Infosys cofounder Nandan Nilekani is reportedly looking to invest in yet another early-stage venture, Fortigo, after recently buying stake in mobile payments startup Mubble and mobile publishing startup Juggernaut.
Fortigo will be launched by technology industry executives Vivek Malhotra and Anjani Mandal shortly, The Economics Times reported, citing sources close to the development.
Apart from Nilekani, Fortigo is in talks to attract other investors, incluing Accel Partners. Accel's investment in the venture is expected to be finalised this week.
According to the sources, Fortigo is currently looking to "raise $2 million in seed-funding".
"What Fortigo will attempt to do is solve fundamental challenges in the trucking and logistics space â€” the idea is to improve the quality of transportation services to businesses," said a source. "And the potential of this idea appealed to Nilekani, who at this stage is looking to back ventures that can solve large problems and address pain points faced by consumers."
Nilekani's investment in Fortigo could become his fourth venture this year alone. Besides backing Mubble and Juggernaut, the former UIDAI chairman invested in startup Team Indus earlier this year. He is also an advisor at Team Indus.
Fortigo will offer a "new technology-powered fleet management service" in the trucking and logistics space, and plans to target small and medium-sized businesses and truck-owners.
Fortigo's offering will reportedly 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".