Logistics startup Loadshare announced which is based in banglore, it has raised upto $40 million (Rs. 300 crore) in a series C fund which is led by New-York based investment from the firm Tiger Global.
Â Loadshare Network operates an advance technology platform for medium-sized and small enterprises in the logistics sector, which raised 300 crore. It is led by Us- based fund by Tiger Global Management, which was announced on Tuesday.
The new investors come on board who were, Filter Capital and 57 Stars even the existing backers CDC Group Plc and Indian Matric Partners even contributed in this round. The fresh funds are being used by the company for hiring more talents, building SME logistics tech, deepening of EV push, and boosting the regional logistics and warehousing network to enable allow faster deliveries.
Co-Founder and CEO at LoadShare Raghuram Talluri in 2017 Loadshare startup got discovered.
Co-Founder and CEO at LoadShare Raghuram Talluri said, â€œWe have been able to scale up 5X from our Series B due to strong macro tailwinds and staying close to our customers. We also have unlocked other tech driven, non-liner growth opportunities for SME truckers and delivery boys, in addition to the core of ops engine.
Loadshare scope has expanded in logistics sector.
In March 2020, the company series B round LoadShare claims to expanded their scope of operations in Grocery, speedy delivery of food, dark store operations in addition to their orginal business lines of region e-commerce and regional part truck load operations for enterprises. The delivery has been over 2.5 lakh orders each day on last mile and over 300 tonnes each day in regional trucking across more than 18 states, company claimed it.
Â Tiger Global partner, Griffin Schroeder said, â€œLoadShareâ€™s technology qualify Indiaâ€™s SME logistics providers to act as one, creating a national transport network with high flexibility and lost cost.
Loadshare delivery has been over 2.5 lakh orders each day on last mile and over 300 tonnes each day.
Filter Capital managing partner, Sumit Singha said, Loadshare is capable for execution-oriented team which to be led by Raghy,Pramod and Rakib who has developed a unique logistics network, which helps its customers to view as mission-critical and core to their businesses. They are able to pay close attention to cost efficiencies, scale potential and sustainability.
Â In 2017 Loadshare startup got discovered by Talluri, Rakib Ahmed and Tanmoy Karmaker. It arranges a technology-based solutions for SMEs in the logistics sector which includes a technology platform, operational of know-how, gives the access to customers, other than providing guidance on business development.
Loadshare Company raised up to Rs. 100 crore in its Series B round in 2020.
Loadshare Company raised up to Rs. 100 crore in its Series B round in 2020 and it raised amount in its first round of institutional funding from Matrix in 2017. It brought on board stellaris as investor, in 2018. In 2019 debt capital raised from Alteria Capital. In the past few years it is observed to be a steady stream of investments in companies operating the logistics- tech space.
In b2b logistics space, Loadshare logistics startup is competiting with others such as Delhivery, Ecom Express, BlackBuck and Rivigo. In last year of July, BigFoot Retail Solution operates ecommerce focused logistics-tech firm Shiprocket, which has raised $ 41.3 milliion as series D1 funding round. Even Dehlivery is able to secure $1.4 billion in funding and Loadshare able to raised Rs. 100 crore, in its first in 2020.