Logistics startup LoadShare is in advanced talks to raise around $50 million in a Series C financing round from new and existing investors.
LoadShare had raised around $13 million [Rs 100 crore] in its Series B round in May 2020, so the new round comes after a 20-month hiatus. To date, the Bengaluru-based firm has raised nearly $18 million.
“LoadShare is all set to close a $50 million round in which Tiger Global will be the lead investor with $25-30 million,” said one of the sources requesting anonymity. “The terms of the deal have been finalised and the Series C round is likely to materialise soon.”
LoadShare provides the technology platform, operations know-how, besides providing guidance on business development and branding. It also offers other services such as first-mile, line-haul, and last-mile deliveries to modular logistics software solutions.
“LoadShare will be valued at around $200 million after this round and Tiger Global will acquire about 15% stake in the company,” said the second source who also wished not to be named. Existing investors including Beenext, CDC, Stellaris, Matrix will also participate on a pro-rata basis.”
LoadShare was founded in 2017 by Raghuram Talluri, Tanmoy Karmakar, and Rakib Ahmed and works with a number of companies including Amazon, Flipkart, Unilever, Jio, Udaan, Myntra, Swiggy, Zomato, BlinkIt, and Zepto.
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