[Funding alert] Logistics startup LoadShare raises Rs 15Cr from CDC Group of UK
LoadShare, the Bengaluru-based logistics startup, has raised Rs 15.3 crore funding as part of its ongoing Series B round, led by CDC Group of UK.
According to RoC filings, the deal has happened through the route of compulsorily convertible preference shares (CCPs) and a very small quantity of equity share where the startup’s each share has been valued at a premium of Rs 1.13 lakh.
Founded in 2017 by Raghuram Talluri, Tanmoy Karmakar, and Rakib Ahmed, Loadshare offers an array of technology-based solutions for small and medium enterprises in the logistics space.
This startup, prior to this Series B round, had raised a cumulative funding of $5 million with investors such as Matrix Venture Partners and Stellaris Venture Partners. Besides, it has also raised debt funding from Alteria Capital.
LoadShare provides the technology platform, operations know-how, besides providing guidance on business development and branding. It also offers other services, ranging from first-mile, line-haul, and last-mile deliveries to modular logistics software solutions.
The services offered by Loadshare range from first-mile, line-haul, last-mile deliveries, and modular logistics software solution to partners. It is primarily focussed on business-to-consumer (B2C) logistics and has plans to foray into B2B logistics.
The market size of the logistics sector is seen climbing to $215 billion by 2020, logging 10.5 percent compounded annual growth rate (CAGR) over 2017.
The logistics sector earned the 'infrastructure' status in 2017 when its market size was estimated at $160 billion. A study by the India Brand Equity Foundation (IBEF) pegs annual investments in the logistics sector to reach $500 billion by 2025.
According to industry observers, the logistics sector is ready for technological disruption. There are many innovative B2B logistics startups employing cutting edge technology such as robotics, automation, data analytics, and Internet of Things (IoT), that have the potential to significantly disrupt the logistics market.
The leading startups in the logistics space are Delhivery, Blackbuck, Rivigo, and among others. Delhivery is now in the unicorn league.
Edited by Saheli Sen Gupta