Among the startups in India in different sectors that have grown rapidly, logistics has definitely found a place. Freight Tiger is one such startup that has announced a fund raising of $8 million. The key investors to have participated in this round are Lightspeed Venture Partners, Alsthom Industries (now part of the Dalmia Group) and the Pawan Munjal Family Trust.
Freight Tiger boasts of 170 clients in diverse industrial sectors and has successfully deployed technology in its operations to help the customers lean on their support from the time the shipments are moved till they get delivered. Among the top companies that avail the logistics and allied services of Freight Tigers include Saint Gobain, JSW Steel and Apollo Tyres apart from a host of third party logistics firms (3PLs). The company has its head offices in Mumbai and branches in Bengaluru and Delhi.
Freight and logistics functions have evolved over time and moving beyond just lifting goods from a point and delivering at the destinations, these firms deliver additional services on packaging solutions, warehousing solutions and so on. Logistics firms like Freight Tiger have become an integral part of the supply chain management system of large corporations.
Freight Tiger’s CEO and Founder Swapnil Shah claims they have built a world-class team across various functions, including operations, technology and with people from diverse product backgrounds to deliver the best practices to their clients.
The company’s logistics partners and customers have only the best things to say about Freight Tiiger and the new investors Lightspeed India too have reposed their faith in the startup and hope for a fruitful partnership going ahead. The parent company of Freight Tiger is Freight Commerce Solutions Pvt. Ltd and some of the early stage investors in the company are Shriram Transport Finance Corporation and angel Mathew Cyriac (former CEO, Blackstone India).
It is learnt that Freight Tiger will use the funds now raised in enhancing its technological capabilities and to expand the customer base.