Investments, News

Gray Routes Bags Second Round of Angel Funding

Gray Routes Technology Pvt. Ltd which deals in building technology for the last mile workforce has raised a second round of funding from Mahesh Parasuraman, Co-Founder of VC firm Amicus Capital, Rahul Gautam, a Hong Kong based investment banker and a group of other angels from The Carlyle Group. This round also saw participation from existing investors as well. Gray Routes has appointed Equirus Capital for next round of fund raise.

The startup had earlier secured $100,000 from a group of unnamed angel investors in Bangalore and Silicon Valley, in July 2013.

Gray Routs' founders- Soubhagya Sahoo and Sapna Patel

Gray Routs’ founders- Soubhagya Sahoo and Sapna Patel

Gray Routes has in its three years of operations, has secured multi-year contracts from FMCG firms like P&G, Nivea, GSK, ADF Foods, PID, RROPL, Restless and another 280 SMEs as clients who use its solution to automate and optimize their last mile delivery/sales operations. The company has over 26 patent claims for its SaaS solutions and has developed automated patent-pending planning systems that can be used to plan, optimize, coordinate in real time and execute work among the sales managers and last mile workers.

The company will use the fund for international patent protection, developing world class data analytics capabilities as well as domestic expansion. It rides on location-based big data and provides real time data analytics and novel visualization solutions to its clients which has been helpful in taking critical decisions regarding their sales and marketing activities.

Gray Routes has been building field force mapping capabilities that is meant for the glocal (global businesses that are increasingly going local or even hyperlocal) market and is completely map based. Along with sales force mapping, the company has developed clustering based route optimization, demand visualization heatmap, automated map based task assignment and secure data sync techniques, vernacular language engine for navigation for the last mile workforce.

The company was founded by Soubhagya Sahoo and Sapna Patel. Soubhagya is an IIT-IIM alumni who led distribution technology initiatives for Hindustan Unilever Limited in his previous role. And Sapna is an ex-Googler, TFI Fellow who works closely with implementation partners and the field force and trains them to use technology.

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