Tech-enabled Logistics startup LoadShare in a Series B round of funding has raised INR 100 Crore, led by BEENEXT along with participation from CDC Group and existing investors Stellaris Venture Partners, Matrix Partners and venture debt fund Alteria Capital.
The company speaking about the new funding informed that it will be used to deepen clientele, invest in technology as well as look at geographic expansions. Further, the new funding will be utilized to deepen ‘essentials’ supply chain network in the pharmaceuticals, fast moving consumer goods and grocery space.
“This investment is timely as it helps us deepen our engagement with clients and continue building capabilities through investments in technology, attracting the best talent, geographic expansion and undertaking new initiatives.”~Raghu Talluri, CEO, LoadShare
LoadShare helps small and medium enterprises (SME) in logistics technology, operations know-how enabling them to network pan India.
“LoadShare is operating in a deep $20 billion addressable market, which is undergoing a fundamental change. LoadShare’s execution across different logistics segments, enabled by their tech enabled marketplace model working with SMEs makes it exciting for us to partner with them,”~Teruhide Sato, Founder and Managing Partner, BEENEXT.
The startup over the last years has increased its regional footprint and expanded to 18 states and over 400 towns, with focus on eastern states. The company first started operations from Northeast.
LoadShare closed fiscal year 2020 with Rs 105 crore in revenue and 80,000 per day last-mile deliveries, with 300 tonnes part-truck load