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Bengaluru-based logistics and supply chain startup Loadshare has raised $40 million in a Series C funding round led by Tiger Global, a US-based investment firm. Filter Capital, 57 Stars, and previous investors CDC Group, and Matrix Partners India, co-led the round.
Raghuram Talluri, Pramod Nair, and Rakib Ahmed co-founded the startup in 2017. The founding team has had strong experience in supply chain and technology, LoadShare’s mission is to solve its customers’ toughest logistics challenges using the power of small and medium logistics entrepreneurs, the statement said.
LoadShare says it offers a range of solutions from last-mile/first-mile (10-minute quick commerce, 30-minute food deliveries, intraday ecommerce deliveries) to regional trucking to warehousing, including regional end-to-end logistics.
The logistics startup also said it runs on an asset-light model and largely focuses on regional transportation of goods for companies like Myntra, Flipkart, Amazon, Udaan, Jio, Relaxo, Mi, Zomato, Swiggy, etc.
According to Raghuram Talluri, The company will focus on hiring talent, building distinctive SME logistics technology, accelerating EV adoption, improving customer experience, and deepening its unique regional logistics and warehousing network to enable faster deliveries of goods.
The company in a statement said it has expanded its scope of operations to now having a significant presence in quick delivery of food, grocery, dark store operations in addition to its original business lines of regional ecommerce and regional part truckload operations for enterprises.
Since its inception, Loadshare has geographically scaled up from East, tier 2/3 heavy ops to a true pan-India play across metros and upcountry, it said. It claims to deliver 2.5 lakh orders per day on the last mile, 300+ tonnes per day in regional trucking across more than 18 states, 500+ towns, it adds.
"We have been able to scale up 5X from our Series B round due to strong macro tailwinds and staying close to our customers. We also unlocked other tech-driven, non-linear growth opportunities for SME truckers and delivery boys, in addition to the core ops engine," Raghuram adds.
Speaking on the investment, Griffin Schroeder, Partner, Tiger Global, said: “LoadShare's technology enables India’s SME logistics providers to act as one, creating a national transport network with low cost and high flexibility. We're excited to back Raghu, Pramod, and their experienced team as they densify their network and expand their product offering."
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