B2B Logistics Start-up Freight Tiger Raises $8 Mn
The logistics space in India is ripe in India, the logi-tech funding sector adds another start-up in its kitty
B2B logistics technology start-up, Freight Tiger, raised $8 Mn led by Lightspeed Venture Partners with participation from Alsthom Industries (one of the Dalmia Group Companies) and Pawan Munjal Family Trust.
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The logistics space in India is ripe in India. With several start-ups doing exceedingly well in the sector including Delhivery, Rivigo, Locus, Blackbuks, Freightwalla etc, more and more such start-ups are grabbing the attention of investors. While Delhivery entered the unicorn club this year, the others are not far behind in the high-valuation game.
The Mumbai-based start-up was quoted as saying regarding the fund-raising, "The current fundraising round and investors' confidence strengthens our vision to build an operating system that powers the entire logistics and freight ecosystem." He further added he and his team are keen on building an internationally transformative company.
Freight Tiger's Founder & CEO, Swapnil Shah
Bejul Somaia, Managing Director of Lightspeed India, of the investors, said "The past couple of years have seen rapid technology adoption by Indian Enterprises and Freight Tiger has been at the forefront of powering supply chains for some of India's largest companies through its depth and breadth of software products. We look forward to partnering with the Freight Tiger team as they unlock new possibilities in one of the world's largest logistics markets."
Freight Tiger is a real time logistics visibility and collaboration technology platform. It also endeavours to provide visibility in freight transactions including shipments on market trucks and build a single version of truth for all the stakeholders involved.
The logi-tech platform has a network of 170+ customers in the country including Saint Gobain, JSW Steel, Apollo Tyres and logistics companies such as BLR Logistiks and several 3PLs.
