LoadShare, a Bangalore-based B2C logistics startup raised Rs 100 crore in a Series B funding round. The company raised Rs 15 Crore in the same round previously. BEENEXT led this round with CDC Group and existing investors like Matrix Partners India, Stellaris Venture Partners and venture debt firm, Alteria Capital.
The startup provides last-mile, first-mile and line haul delivery services and has operations spread over 18 states and 400 towns. They plan on using this investment to expand its supply chain network and enter industries like pharmaceuticals, FMCG and groceries. This will also help them with their CRM, talent management and undertaking new initiatives like hyperlocal delivery.
Founded in 2017, the startup has managed to create 3000 jobs and it will remain their focus area even now. It has created expertise in delivering ecommerce logistics to serve non-ecommerce clients (CPG, Industrials) in areas such as regional trucking and distributor-to-store logistics.
The company is tech-enabled and provides a marketplace working model which makes it more exciting. The Indian logistics industry is $120 billion and about 70% of it is by road which is 40 lakh trucks. The company is playing an important role in these uncertain times as well by ensuring supply chains. Their tech-based platform provides better services at lower prices. The company has the plans to enter B2B logistics space soon.