Elixia secures $1 million in pre-series A funding led by JIIF
Elixia serves an impressive client portfolio, including industry leaders such as Flipkart, Hershey's, Pidilite, and UPL.
(L-R) Mihir Ravani, COO, Elixia with Sanket Sheth, Founder of Elixia.
The JITO Incubation and Innovation Foundation (JIIF) spearheaded a Pre-Series A funding round for Elixia Inc., a US-based company, and its Indian subsidiary, Elixia Robotics Pvt. Ltd. The company, focused on end-to-end logistics automation, successfully raised $1 million during this round.
Among the noteworthy investors that have participated in this round of fundraising are Motilal Oswal (Motilal Oswal Financial Services Ltd), Vimal Shah (Bidco Oil), Sparsh Jain (JG Group), Vinod Dugar (RDB Group), and Vimal Khinvasara (WMA Group). Additional contributions were made by Ashok Shah (V-Trans Group), Amit Chandwar (K M Trans Logistics Pvt Ltd), Om Jain (Just Call), and Hiren Kapasiawala. Investment firm 888VC also co-invested alongside JIIF in Elixia Robotics Pvt Ltd.
The newly acquired funds will support Elixia’s expansion into the Middle East, providing advanced logistics solutions tailored to the specific needs of the region. The company also plans to enhance its product offerings by integrating generative AI and machine learning technologies, enabling improved multimodal visibility and identifying operational inefficiencies within the logistics sector.
“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,” remarked Rajat Mehta, Chairman of the JITO Incubation and Innovation Foundation.
Sanket Sheth, Founder of Elixia, stated, “This new investment will enable us to expand our product portfolio with generative AI capabilities and enhance multimodal visibility for our customers. The $1M investment is a testament to the belief our investors have in our vision to reshape logistics for the modern world.”
Elixia serves an impressive client portfolio, including industry leaders such as Flipkart, Hershey's, Pidilite, and UPL. The company is well-positioned for rapid growth as the adoption of AI in logistics accelerates. According to PwC, artificial intelligence could add up to $15.7 trillion to the global economy by 2030, with Saudi Arabia projected to benefit significantly, where AI is expected to contribute over $135.2 billion—equivalent to 12.4% of the nation’s GDP.
