Freight Tiger, a digital freight network, said Saturday that it has raised $ 6.5 million, led by Florintree Infra. The round also featured participation from the family office of the Oyo founder, Ritesh Agarwal, Aroa Ventures, and existing investors Lightspeed India Partners, Moonstone Investments and Pawan Munjal Family Trust.
Founded by Swapnil Shah, Freight Tiger has more than 300 carriers and 4,000 trucking companies on its platform. Clients include Saint Gobain, Dalmia Group, JSW Steel, BLR Logistiks, Patanjali, Kohler, and MRF.
Shah, founder and CEO of Freight Tiger, said: “We are excited to leverage Mathew’s expertise in the logistics industry and scaling companies. We have seen rapid acceleration in adoption in the last 12 months on our platform for software and digital freight network. Today we process about 4% of India’s FTL volume on our software platform. Our differentiated approach to end-to-end software-led digitization is uniting the ecosystem and making the Indian freight market of $ 125 billion is more fluid, collaborative and transparent. We are on track to reach $ 100 million in annualized gross revenue by the end of this fiscal year. ”
Mathew Cyriac, CEO of Florintree Advisors, said: “Freight Tiger is well positioned to transform the very complex Indian logistics sector in the coming years.”
