Startup Freight Tiger raises $8 mn in funding

Dalmia Group, Pawan Munjal Family Trust and Lightspeed Venture Partners have invested USD 8 million in logistics startup Freight Tiger. Lightspeed led the current round of funding in which Dalmia group's Alsthom Industries and the family trust of the Hero group promoters also participated.

The city-based Freight Tiger serves over 170 customers through offices in Bengaluru and Delhi as well and is in the process of building a real-time logistics visibility and collaboration platform for the freight industry, a statement said. Freight Commerce Solutions, the parent company of Freight Tiger, had earlier received seed investment from Shriram Transport Finance Corporation and private equity major Blackstone's former co-chief executive for India, Mathew Cyriac.

The company's founder and chief executive Swapnil Shah said the latest fundraising round and investors confidence strengthens its vision to build an operating system that "powers the entire logistics and freight ecosystem". Lightspeed's managing director Bejul Somalia said there has been a rapid technology adoption by Indian companies in the last two years and Freight Tiger is at the forefront of powering supply chains for biggest of the Indian companies.