Florintree Infra, others leads $6.5M round in logistics startup Freight Tiger

Mumbai-based logistics startup Freight Tiger today said it has raised $6.5 million in a funding round led by Florintree Infra.

Investors, including Aroa Ventures, the Family office fund of OYO Founder Ritesh Agarwal and existing investors -- Lightspeed India Partners, Moonstone Investments, and Pawan Munjal Family Trust, also participated in the round.

Speaking on the development, Swapnil Shah, Founder, and CEO, Freight Tiger, said, “We have seen a rapid acceleration in adoption over the last 12 months on our software platform and digital freight network. We today process close to 4 percent of India’s FTL volumes on our software platform. Our differentiated approach of software-led end-to-end digitization is bringing the ecosystem together and is making the $125 billion Indian freight market more seamless, collaborative, and transparent.”

He further said that the startup is on track to hit $100 million in annualized gross revenue by the end of this fiscal year.

Founded in 2014 by Swapnil Shah, Freight Tiger operates a SaaS-enabled digital freight network that helps shippers and logistics service providers — move fast, load more, reduce empty miles, and reduce waste.

The startup claims to have over 300 shippers and 4,000 transport businesses on its platform. It counts notable clients like Saint Gobain, Dalmia Group, JSW Steel, BLR Logistiks, Patanjali, Kohler, and MRF, to name a few.

Apart from this, Freight Tiger had also been featured in Bain's Top B2B software platforms report 2020 for its ability to re-define logistics in order to have a significant, long-term, nationwide impact.

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