Freightify co-founders launch ZAR Partners, a $3M LogTech innovation fund for startups
After the recent funding of Freightify (earlier FreightBro), Co-founders V Anand Babu and Mohammed Zakkiria have exited the company to set up ZAR Partners, a $3 million LogTech innovation fund to back startups in the space.
The founders said, "Having spent close to five years since its inception in October 2016, we found immense pleasure in the process of envisioning an idea, which then gave life to products, attracting talent, setting up the right and capable teams, identifying key stakeholders, strategic partnerships, markets for POC before going live in 2018 for marketplace vertical."
"While all this was done, strengthening the core product SaaS was the only agenda. We are grateful for the opportunity and thank all stakeholders involved in this journey of building a strong brand which literally went global and attracted global investors. We are really proud of this progress and wish Freightify God speed!"
Co-founder Mohammed Zakkiria
The duo believe that their experience and learning of building a LogTech company from ideatation to generating multimillion dollars in revenue can be useful for someone attempting to solve different problems in the same industry.
The statement said logistics is still a relationship-driven business; it's hard to fix the PMF and get the initial traction from zero to multimillion-dollar revenue.
Co-founder V Anand Babu
Together as a team, the duo intend to assist as many startups as possible in this challenging zone. With ZAR Partners, the duo is keen to share their playbook with the LogTech and Supply Chain tech community while leveraging their expertise and network to fuel the growth of early-stage startups.
V Anand Babu said, “We are in the process of building ZAR Partners to support startups, create more jobs, attract more investments, and make bigger impact in LogTech ecosystem.
"We have set steep targets for the next two years and intend to attract funds of $3 million to back disruptive logistics and B2B startups."