Matchlog Raises $3 Million In Pre-Series A
The funds will be utilized to develop the tech platform for artificial intelligence and machine learning
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MatchLog, a digital first container logistics optimisation platform, has raised $3 million in its pre-Series A round through Blue Ashva Capital, a leading Singapore and India-based VC, Rainmatter Climate and Capital-A.
The capital raised will be deployed to develop the tech platform for AI and machine learning-based pairing of cargo across India, grow the multi-modal share in addition to road transport and expand its footprint to more ports in India and around the world.
MatchLog is the first company in India that offers at scale the ability to turnaround a container from an import to export cycle, thereby eliminating unnecessary empty runs to and from the container yards. MatchLog's work results in significant fuel savings and directly contribute to the decarbonisation goals of the shipping industry. In 2021 alone, MatchLog saved one million-plus kgs of carbon emission through its efforts, said a statement.
"I am glad to partner with marquee investors like Blue Ashva and Raimatter who value and share the same passion of solving the global problem of carbon emission which is our main mission at Matchlog. We will start with India and then expand to the Middle East, Africa and southeast Asian markets in the next 12-18 months. At MatchLog, our mission is to reduce at least 100 million tonnes of carbon through our platform in the coming five years," said Dhruv Taneja, founder of MatchLog.
"Decarbonisation is one of the key foci of the shipping industry globally. Efficient turnaround of containers and reduction of empty haulage can bring efficiency and reduce carbon emissions. We're excited to work with the MatchLog team to contribute our part in making the shipping industry more sustainable." Said Satya Bansal, founder of Blue Ashva Capital.
MatchLog was founded in 2019 by Dhruv Taneja. MatchLog's technology efforts are led by its CTO Manish Singh, former founder of Shiplyst. The platform focuses on providing EXIM players including forwarders, shipping lines, CHA, cargo owners, and ports with state-of-art platform which gives in one point view visibility across supply, added the statement.