Loadshare Logistics startup raises from Matrix partners

In its first round of funding Loadshare has raised an undisclosed amount, the round was led by VC firm Matrix Partners India. The company started its operations in January this year, Loadshare is bulding a network by connecting small and medium businesses in logistics with technology and operations. The founders of the company include Raghuram Talluri, a former Myntra executive, and Tanmoy Karmakar and Rakib Ahmed.
The company said the funds raised will be used in technology, operations and towards hiring talent.

Loadshare claims over 10,000 shipments per day. “We cover a network of about 2,000 pin codes and with the fresh funds we are aiming to cover 5,000 pincodes in a year,” said Raghuram.

“SME’s in India are adopting technology rapidly and we believe SaaS-enabled marketplaces are a great approach to providing value to the Indian SME. Loadshare’s approach to stitch together a network of small courier companies across India by providing them technology is differentiated,” said MD, Matrix Partners India.

“We are expanding in south while we have covered North East completely and also investing in West Bengal and Odisha to enhance our network in these parts,” Raghuram informed us.

Logistics space have been receiving a steady flow of capital as e-commerce companies in India generated a new demand for the segment to expand. Delhivery, Blackbuck are among other logistics tech players in the country .

Summary
Loadshare Logistics startup raises from Matrix partners
Article Name
Loadshare Logistics startup raises from Matrix partners
Description
Logistics tech enabling startup Loadshare raises first round of funding
Aditya Gupta
Startupwine
Startupwine
Publisher Logo
Comments
Load More Related Articles
Load More In Funding