UditFreight Tiger, which is a B2B logistics technology provider has now secured $8 Million in the funding round of Series A led by the Lightspeed Venture Partners along with the collaboration from Hero group MD Pawan Munjal Family Trust and Dalmia Group Alsthom Industries.
The Mumbai based firm provides a technology platform for a real-time consignment tracking by integrating into the systems of the consigner, third-party logistics service provider as well as the consignee. Its solution can even track the orders from the time an order is placed at the time of invoicing.
The company as of now has a plans to utilize the funding to strengthen its product offering by building sector specific customizations, apart from the growing its team and expanding to the market outside India. The company as of now has 180 clients including the JSW Steel, Apollo Tyres and Saint Gobain.
“Part of the capital will go towards the team and geographic expansion. However, the main focus would be to enhance the offering by building industry-specific products,” said Swapnil Shah, founder and CEO of Freight Tiger. “We’re also planning to add rail, ocean and air freight tracking to the mix and plan to go international sometime early next year.”
“The past couple of years has seen rapid technology adoption by Indian Enterprises, and Freight Tiger has been at the forefront of powering supply chains for some of India’s largest companies through its depth and breadth of software products,” said Bejul Somaia, Managing Director, Lightspeed India.
Source: Freight Tiger