Mumbai-headquartered Freight Tiger, a B2B logistics technology start-up, has raised $8 million in a funding round led by venture capital firm Lightspeed Venture Partners. Alsthom Industries, a Dalmia Group company, and Pawan Munjal Family Trust also participated in this round.
Mumbai-based Freight Tiger is building a real time logistics visibility and collaboration platform for the freight industry and works closely with other logistics companies and consignors.
“The fundraising and investors’ confidence strengthens our vision to build an operating system that powers the entire logistics and freight ecosystem,” said Swapnil Shah, CEO and Founder, Freight Tiger.
“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,” said Bejul Somaia, Managing Director, Lightspeed India.
Freight Tiger claims to be the largest logistics technology platform and network in the country with over 170 customers including some of the largest consignors/manufacturers such as Saint Gobain, JSW Steel, Apollo Tyres and leading logistics companies such as BLR Logistiks.
Freight Commerce Solutions Pvt Ltd, the parent company of Freight Tiger had earlier received seed funding from Shriram Transport Finance Corporation and Mathew Cyriac, former Co-CEO of Blackstone India.
Following this funding round, Freight Tiger plans 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.
Ashok Goyal, Managing Director, BLR Logistiks said, “We have been working with the Freight Tiger team for the past several years and impressed by their customer centricity. They have been a great technology partner and a neutral platform in our goal to digitise our operations and drive transformative customer service to our customers.” BLR Logistiks is one of the premier logistics & transportation companies in the country.