Logistics platform Loadshare raises $40 million led by Tiger Global

Logistics platform Loadshare said it has raised $40 million (about Rs 300 crore) in a funding round led by Tiger Global Filter Capital, 57 Stars , existing investors CDC Group and Matrix Partners India, and a few prominent family offices also participated in the round.The Bengaluru-based company said it plans to further invest in hiring, building logistics technology and adopting more electric vehicles into its fleet. The company claims to run an asset-light business and largely focuses on regional transportation of goods for tech companies like Swiggy, Flipkart and Amazon, and FMCG firms like Hindustan Unilever and Procter & Gamble.Since the company’s previous funding round in March 2020, LoadShare said it has expanded its scope of operations to now having a significant presence in quick delivery of food and grocery, and dark store operations, in addition to the original business lines of a regional ecommerce and partial truckload operations.The company started operations in the northeast region of the country to deliver goods to the doorstep of customers.Cofounder Raghuram Talluri, who is also its chief executive, said his company helps bring down the cost and time of delivering goods to clients. It delivers more than 2,50,000 orders per day on the last mile, and over 400 tonnes per day in regional trucking across 18 states.Founded in 2017 by Talluri, Pramod Nair and Rakib Ahmed, Loadshare offers a range of logistics solutions. “From quick commerce to enterprise supply chains, the logistics industry is undergoing a massive transformation. We have been able to scale up 5X from our Series B scale due to strong macro tailwinds and staying close to our customers.”“LoadShares technology enables India’s SME logistics providers to act as one, creating a national transport network with low cost and high flexibility" said Griffin Schroeder, partner, Tiger Global.