Online logistics startup TransportEG secures ₹13 crores in funding

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Mumbai-based online logistics startup TransportEG has raised ₹13 crores ($1.9 million) from the private equity arm of Infrastructure Leasing & Financial Services (IL&FS). Investment banking firm Edifice Capital Advisory Services acted as the adviser for the transaction.

TransportEG had earlier raised angel funding from Israel-based Goldratt Group in 2016.

The funds raised will be used to boost its product and technology features, along with expanding and hiring talent.

Operated by Caliper Business Solutions Pvt Ltd, TransportEG was founded by Siddaraju HV, along with Krishna Guha in 2015. It aims to provide a robust infrastructure for transportation service providers and service seekers. It uses the latest technologies and insights to enable mutually beneficial partnerships.

The company claims that one of the biggest benefits to the customers is that they can order truck haulage services through the spot market, which is a very efficient way of doing business.

With over 1,400 transporters, the platform provides 95,000 trucks, processing transporting contracts valued ₹350 crores every month. The startup also claims to have more than 35 corporate clients across 20 verticals.

Other players in the logistics domain include FreightBazaar, a freight aggregator that had raised an undisclosed amount of funding in pre-Series A round led by Omphalos Ventures India. While last mile logistics provider LetsTransport had raised $15 million from new and existing investors in February this year.

Other well-funded startups in the broader tech-enabled logistics domain include e-commerce logistics company XpressBees, Gurugram-based logistics startup Delhivery, and end-to-end logistics service provider Ecom Express.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Rakul Preet Singh to star with Sidharth Malhotra and Ajay Devgn in Indra Kumar’s film

We recently told you that actor Ajay Devgn had joined Sidharth Malhotra for a film which will be directed...

Delhi Government reduces winter break in schools to makeup for the lost study hours

The increasing pollution level in New Delhi is worrying everyone and most importantly, it is affecting the education of the students. Keeping that in...

‘Gully Boy’ actor Siddhant Chaturvedi to star with Deepika Padukone in Shakun Batra directorial

After giving an impressive performance in Zoya Akhtar’s Gully Boy, actor Siddhant Chaturvedi is all set to share the screen space with actor Deepika...

Hyderabad ‘Encounter’: Plea Seeking FIR and Probe Filed By 2 SC Lawyers

A writ petition has been filed by two Supreme court Advocates - GS Mani and Pradeep Kumar Yadav in Supreme court on Saturday. The...

Draft policy on education recommends extending range of RTE Act: Central Government to Delhi HC

The draft policy on education has recommended extending the ambit of the Right of Children for Free and Compulsory Education (RTE) Act, 2019 for...
- Advertisement -

More Articles Like This