wordpress blog stats
Connect with us

Hi, what are you looking for?

Logistics tech firm Loadshare Networks raises funds from Matrix Partners

Logistics startup Loadshare Networks has raised an undisclosed amount from Matrix Partners India the company said in a statement.  The funds will be used to expand the team and build a technology platform for logistics of SME’s.

Loadshare was started in January this year by Raghuram Talluri, former head of customer experience at Myntra along with Tanmoy Karmakar and Rakib Ahmed, who have built and worked on logistic startups prior to this.

The company has a network covering more than 2000 pin codes across North East & East India, Metros, Kerala, Karnataka, Andhra Pradesh , Tamil Nadu, UP and  Rajasthan. It offers services ranging from first mile, line-haul, last mile deliveries and modular logistics software solutions to its customers. The company claims it has completed more than 3 million shipments. It provides services to e-commerce portals, SME’s , B2B companies  and B2B2C companies.

Raghuram Talluri, co-founder and CEO, Loadshare claims that the company sees 10,000 shipments per day and the funds will help them expand to more than 5000 PIN codes, as indicated by this Times of India report

Competition

Advertisement. Scroll to continue reading.

Earlier this month logistic firm Delhivery had raised $30 million from Fosun International. The company also competes with Gati’s e-commerce business, Gati e-connect. Other logistic firms include  Rivigo which had raised $75 million from an affiliate of Warburg Pincus in November last year; Locus which had raised $2.75 million from Exfinity Ventures in May last year and BlackBuck which had raised $70 million in March this year from Sands Capital.

Meanwhile, online fashion website Myntra acquired Bangalore-based logistics startup InLogg for an undisclosed amount earlier this year. InLogg was started in 2015 and has expertise in fulfillment, technology, and business and is looking to standardize logistics in remote areas. Myntra added that InLogg is stitching a composite supply chain of regional courier companies across states in India.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ