Sonata Software Ltd has decided to acquire a stake of up to 17% in SemiCab Inc., a US-based startup that offers technology platforms to logistics providers.
Bengaluru-based Sonata will invest up to $1.4 million (Rs 10 crore at current exchange rates) for the stake, it said in a stock-exchange filing.
Sonata will also spend an additional $300,000 (around Rs 2.15 crore) for SemiCab’s services over the next one year.
The deal is in line with Sonata’s strategy to invest in companies that are digitally transforming their businesses. It will also help the company provide services to customers in sectors such as retail and distribution, Sonata said.
SemiCab was founded in 2018 by Ajeesh Kapoor and Jagan Reddy. It offers technology platforms for logistics providers such as shippers, carriers and drivers. The firm says its digital freight ecosystem pre-integrates with enterprises so as to anticipate demand, and that it also provides for supply optimisation and real-time responsiveness, according to its website.
Sonata mainly provides IT services to customers in the US, Europe, West Asia and Asia Pacific. It also acts as a distributor of software products in India.
The company has also invested in other firms to augment its services and technological portfolio.
In March last year, for example, the company said it had invested in Retail10X Inc., a Silicon Valley-based software-as-a-service (SaaS) startup for offline retailers.
In December 2018, Sonata agreed to acquire Brisbane, Australia-based Scalable Data Systems Pty. Ltd for an enterprise value up to 5.5 million Australian dollars ($4 million).
In December 2017, the firm said it would buy a 15% stake in Denmark-based IZARA ApS to grow its presence in the Nordic region.