MUMBAI: Digital freight network Freight Tiger on Saturday said it has raised $6.5 million led by Florintry Infra. Arrow Ventures, the family office of OYO founder Ritesh Agarwal, and existing investors Lightspeed India Partners, Moonstone Investments and Pawan Munjal Family Trust also participated in the round.
Founded by Swapnil Shah, Freight Tiger has over 300 shippers and 4,000 transport companies on its platform. Clients include St. Gobain’s, Dalmia Group, JSW Steel, BLR Logistics, Patanjali, Kohler and MRF.
Shah, Founder and CEO, Freight Tiger, said, “We are excited to leverage Mathew’s expertise in the logistics industry and scaling companies. We have seen an uptick in adoption over the past 12 months on our software platform and digital freight network. Today we process around 4% of India’s FTL volume on our software platform. Our differentiated approach to software-based end-to-end digitization is bringing the ecosystem together and making the $125 billion Indian goods market more seamless, collaborative and transparent. We are on track to reach $100 million in annual gross revenue by the end of this fiscal.”
“Freight Tiger is well positioned to transform the very complex Indian logistics sector in the next few years,” said Matthew Siriac, Executive Chairman, Florintry Advisors.
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