Lightspeed Venture Partners has lead $8 million (approx ₹55 crore) investment in Mumbai-based B2B logistics tech startup Freight Tiger during a fresh funding round. While, other participants in the round were Dalmia Group’s Alsthom Industries and Pawan Munjal Family Trust.
Freight Tiger will utilize the capital in expanding its product and technology, while connecting with more customers. It will also be leveraging artificial intelligence as well as machine learning and build industry specific AI extensions on the platform.
“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,” the company said.
Whereas, 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.”
Founded in 2015 by Swapnil Shah, Freight Tiger is a real time logistics visibility and collaboration technology platform.
It aims to bring 100 per cent visibility into every freight transaction including shipments on market trucks and build a single version of truth for all the stakeholders involved.
Prior to this round, the company has raised seed funding from Shriram Transport Finance Corporation and Mathew Cyriac, former co-CEO of Blackstone’s India Office.
Other logistics startup includes Vintage Point Logistics, Lineage Logistics, Delhivery, Capstone logistics, Cargoways logistics, etc.