Loadshare, a Bengaluru-based logistics and supply chain startup, has raised $40 million in a Series C funding round led by US-based investment firm Tiger Global. The round was co-led by Filter Capital, 57 Stars, and previous investors CDC Group and Matrix Partners India.
The company was founded in 2017 by Raghuram Talluri, Pramod Nair, and Rakib Ahmed. According to the statement, LoadShare’s mission is to solve its customers’ toughest logistics challenges by leveraging the power of small and medium logistics entrepreneurs.
According to LoadShare, it provides a variety of services ranging from last-mile/first-mile (10-minute quick commerce, 30-minute food deliveries, intraday ecommerce deliveries) to regional trucking and warehousing, as well as regional end-to-end logistics.
The logistics startup also said it runs on an asset-light model and largely focuses on regional transportation of goods for companies like Myntra, Flipkart, Amazon, Udaan, Jio, Relaxo, Mi, Zomato, Swiggy, etc.
According to Raghuram Talluri, The company will focus on hiring talent, building distinctive SME logistics technology, accelerating EV adoption, improving customer experience, and deepening its unique regional logistics and warehousing network to enable faster deliveries of goods.
In a statement, the company said it has broadened its scope of operations to include food delivery, grocery delivery, and dark store operations, in addition to its original business lines of regional ecommerce and regional part truckload operations for businesses.
Loadshare has grown geographically from tier 2/3 heavy ops in the East to a true pan-India play across metros and upcountry, according to the company. It claims to deliver 2.5 lakh orders per day on the last mile, as well as 300+ tonnes per day in regional trucking, across 18 states and 500+ towns.
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