Post Date : July 3, 2019
Lightspeed Venture Partners led the round with participation from Alsthom Industries (one of the Dalmia Group Companies) and Pawan Munjal Family Trust
Freight Tiger, one of India’s leading B2B tech-logistics startup, on Tuesday announced funding of $8 million. The funding round is led by their existing investor Lightspeed Venture Partners with participation from Alsthom Industries and Pawan Munjal Family Trust.
Based in Mumbai, Freight Tiger had earlier raised $2 million from Lightspeed in 2017. It also has offices in Delhi and Bangalore. Freight Tiger adopts a collaborative approach in the rapidly emerging space. It works closely with 3PLs, logistics service companies/transporters and consignors. Close collaborations with leading brands and manufacturers allow Freight Tiger to focus on end to end supply chain and not be limited to only one part of it.
For premium customers, we provide comprehensive data analytics dashboard, control tower software and managed services where we provide skilled control tower manpower resources for exception and escalation handling.
“We are keen on building an internationally transformative company. We have built a world-class multidisciplinary team with technology, operations and product backgrounds to make a significant impact. The current fundraising round and investors’ confidence strengthens our vision to build an operating system that powers the entire logistics and freight ecosystem.“Mr. Swapnil Shah, CEO and Founder, Freight Tiger
The startup plans to use the funds to connect with more customers, expand its product and technology through artificial intelligence, as well as machine learning, and build industry-specific AI extensions on the platform, the company said in a statement.
Mr. Bejul Somaia, Managing Director, Lightspeed India said, “The past couple of years has 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 today is the largest logistics technology platform and network in the country today with 170+ premium customers including some of the largest consignors/manufacturers such as Saint Gobain, JSW Steel, Apollo Tyres and leading logistics companies such as BLR Logistiks and several 3PLs.