Mumbai-headquartered business-to-business logistics technology startup Freight Tiger has recently managed to raise $8 million in a funding round led by venture investment firm Lightspeed Venture Partners. Reportedly, list of other participants in the round included Pawan Munjal Family Trust and Dalmia Group’s Alsthom Industries.

Swapnil Shah, Freight Tiger Founder and CEO stated that investors’ confidence and this fundraising round has strengthened the company’s idea of fabricating an operating system to drive the entire freight and logistics ecosystem. 

Lightspeed India Managing Director Bejul Somaia was quoted saying that the world has witnessed rapid adoption of technology by Indian businesses and Freight Tiger has been leading supply chains for many of India’s largest enterprises through its efficient software platforms. He further added that the group looks forward to teaming up with Freight Tiger and unlock fresh new possibilities in one of the world’s biggest logistics industries.

Apparently, following the funding round, Freight Tiger aims to grow its customer network and enhance its technology and products through Machine Learning & Artificial Intelligence, to make industry-specific AI-based modifications to its platform.

BLR Logistiks Managing Director Ashok Goyal noted that Freight Tiger’s customer centricity has impressed them over the years. He also mentioned that the Freight Tiger team have been excellent technology partners and their goal together is to offer transformative service to customers.

Freight Tiger has claimed to be India’s largest logistics technology network and platform with more than 170 customers including manufacturers like JSW Steel, Saint Gobain, BLR Logistiks and Apollo Tyres.

Citing reliable sources, Freight Commerce Solutions, a subsidiary of Freight Tiger had earlier acquired seed funding from former Blackstone co-CEO Mathew Cyriac as well as Shriram Transport Finance Corporation.

Freight Tiger is working on developing a real-time logistics collaboration and visibility platform for India’s freight industry in sync with other logistics consignors and firms.

Source credits: https://www.indianweb2.com/2019/07/03/logistics-tech-startup-freight-tiger-raises-8-mn-lightspeed-venture-dalmia-group-others/