Chennai, NFAPost: B2B logistics technology startup, Freight Tiger, has announced funding of $8 million. The funding round is led by Lightspeed Venture Partners with participation from Alsthom Industries (one of the Dalmia Group Companies) and Pawan Munjal Family Trust.
Mumbai-based Freight Tiger with offices in Bengaluru and Delhi is a company building a real time logistics visibility and collaboration platform for the freight industry.
Freight Tiger adopts a collaborative approach in the rapidly emerging space. It works closely with 3PLs, logistics service companies/transporters and consignors. Close collaborations with leading brands and manufacturers allow Freight Tiger to focus on end to end supply chain.
“The current fundraising round and investors’ confidence strengthens our vision to build an operating system that powers the entire logistics and freight ecosystem,” Freight Tiger CEO and Founder Swapnil Shah said.
Lightspeed India Managing Director Bejul Somaia 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.”
Freight Tiger is 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 and several 3PLs.
Freight Commerce Solutions Pvt Ltd, the parent company of FT, had earlier received seed investment from Shriram Transport Finance Corporation and Mathew Cyriac – former Co-CEO of Blackstone’s India Office.
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.