Logistics platform LoadShare raises $40M in funding led by Tiger Global, others
The Bengaluru-based Loadshare has raised $ 40 million in a Series C sponsorship cycle led by Tiger Global, a US-based investment company. Filter Capital, 57 Stars, and former investors CDC Group, as well as Matrix Partners India, led the joint venture.
Raghuram Talluri, Pramod Nair, and Rakib Ahmed co-founded the launch in 2017. The founding team had strong experience in supply chain and technology, LoadShare’s goal is to solve complex logistics challenges for customers using the power of small and medium enterprises. , said the statement.
LoadShare claims to offer a range of solutions from the last mile / first mile (10-minute fast trading, 30-minute food delivery, intraday eCommerce delivery) to regional truck transport to the warehouse, including regional end arrivals.
The start-up of the operations is also based on the light of the model of the goods and is mainly focused on regional shipping of companies such as Myntra, Flipkart, Amazon, Udaan, Jio, and Relaxo, Mi, Zomato, Swiggy, etc.
According to Raghuram Talluri, the company will focus on recruiting talent, building different SME Logistics technologies, accelerating EV adoption, improving customer experience, and deepening its unique regional storage network and inventory network to enable faster delivery.
The company said in a statement that it has increased its operational capacity to have a significant presence in fast food delivery, grocery stores, and black shop operations in addition to its original regional eCommerce business lines and regional business truck loading.
Since its inception, Loadshare has risen geographically from the East, a tier 2/3 of heavy ops to a true pan-India game across the metro and up, it said. It delivers 2.5 lakh orders per day per mile, 300+ tons per day by regional trucks in more than 18 provinces, and 500+ cities, he adds.
“We were able to increase 5X from our Series B cycle thanks to strong macro tailwinds and staying close to our customers. We have also opened up other growth opportunities that are technically driven, with no line for SME truck drivers and delivery boys, in addition to the main ops engine, ”added Raghuram.
Commenting on the investment, Griffin Schroeder, Partner, Tiger Global, said: “LoadShare technology enables Indian SME suppliers to operate as one, creating a low-cost national transport network with high flexibility. We are excited to support Raghu, Pramod, and their experienced team as they strengthen their network and expand their product offerings. ”
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