[Funding alert] LoadShare raises Rs 300 Cr Series C investment led by Tiger Global
Asset light logistics platformhas raised a Series C investment of Rs 300 crore led by Tiger Global with participation from Filter Capital, 57 Stars, and previous investors CDC Group and Matrix Partners India.
The startup stated that a few prominent family offices also participated in the round since the company’s Series B round in March 2020. LoadShare has expanded its scope of operations to now having a significant presence in quick delivery of food, grocery, dark store operations in addition to its original business lines of regional ecommerce and regional part truck load operations for enterprises.
“Now is perhaps the most exciting time to be in supply chain ops in India. From quick commerce to enterprise supply chains, logistics industry is undergoing a massive transformation. We have been able to scale up 5X from our Series B round due to strong macro tailwinds and staying close to our customers. We also unlocked other tech driven, non-linear growth opportunities for SME truckers and delivery boys, in addition to the core ops engine," said Raghuram Talluri, Co-founder and CEO of LoadShare.
"We plan to further invest in five key themes -- building a world-class team, build distinctive SME logistics tech, deepen our EV push, improve customer experience and deepen our unique regional logistics and warehousing network to enable faster deliveries,” he added.
The startup has geographically scaled up from East, tier 2/3 heavy ops to a true pan-India play across metros and upcountry. They deliver 2.5 lakh orders per day on last mile, 300+ tonnes per day in regional trucking across more than 18 states, 500+ towns.
“LoadShare's technology enables India’s SME logistics providers to act as one, creating a national transport network with low cost and high flexibility. We're excited to back Raghu, Pramod, and their experienced team as they densify their network and expand their product offering," said Griffin Schroeder, Partner, Tiger Global.
Founded in 2017 by Raghuram Talluri, Pramod Nair, and Rakib Ahmed, who have had strong experience in supply chain and technology, LoadShare’s mission is to solve for its customers’ toughest logistics challenges using the power of small and medium logistics entrepreneurs.
“LoadShare’s capable, execution-oriented team, led by Raghu, Pramod, and Rakib, have developed a unique logistics network that its customers view as mission-critical and core to their businesses, all the while paying close attention to cost efficiencies, sustainability, and scale potential," commented Sumit Sinha, Managing Partner, Filter Capital.
The investors added that the ability to adapt and be flexible with the changing needs of their customers is testament to the asset-light and technology-led model for logistics they have created.
"We are pleased to see LoadShare’s growth as it continues to extend impact across communities. India’s sustainable social and economic growth will be enhanced by businesses like LoadShare that are stepping into the market gap during challenging times to meet the needs of people and keep the economy moving. CDC’s renewed investment in LoadShare demonstrates our confidence in the business and a joint goal of accelerating productive and inclusive growth in India through job creation, upskilling of workers, and increased opportunities for local entrepreneurs,” commented Srini Nagarajan, Managing Director and Head of Asia, CDC Group.
LoadShare offers a range of solutions from last-mile / first-mile (10 minute quick commerce, 30 minute food deliveries, intra day ecommerce deliveries) to regional trucking to warehousing, including regional end-to-end logistics.
"We’ve been fortunate to be part of the LoadShare journey from day zero. The outstanding growth over the last few years and the quick expansion into emerging categories like quick-commerce reinforces the strength of this model. We welcome Tiger Global, Filter Capital, and 57 Stars to this exciting partnership. #justgettingstarted” said Rajinder Balaraman, Managing Director, Matrix India