LoadShare bags Rs 100 Cr funding
By MYBRANDBOOK
LoadShare has raised Rs 100 crore in a funding round led by Beenext. LoadShare is a technology enabled logistics startup. CDC Group and existing investors like Stellaris Venture Partners, Matrix Partners, and Alteria Capital also participated in the round.
In its Series A round, it had raised $5 million and the round was led by Stellaris Partners in April 2018.
These fresh funds for LoadShare come in the backdrop of logistics businesses being hit due to the ongoing nationwide lockdown with only essential items being allowed, causing a down downfall in revenue for the past 40 days.
The news fund will be used towards strengthening its ‘essentials’ supply chain networks in the pharmaceuticals, fast-moving consumer goods (FMCG), and grocery space, as per reports.
In addition, the company is also looking to expand its hyperlocal delivery network and enable the movement of essentials.
Founded by a former Myntra executive Raghuram Talluri, along with Tanmoy Karmakar and Rakib Ahmed in 2017, B2B focused LoadShare has built a network focusing on small and medium players by helping them with technology and operations know-how. It offers services ranging from first-mile, line-haul, and last-mile deliveries to modular logistics software solutions.
Presently, the startup claims that it covers over 4,000 pin codes across the country with over 2 million deliveries every month. Its network consists of more than 100 active partners and around 29,000 delivery executives who have delivered over 8 million orders to date.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
SAMSUNG INDIA ELECTRONICS PVT. LTD.
POLYCAB INDIA PVT. LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
MICROMAX INFORMATICS LTD.
Technology Icons Of India 2023: Sunil Gupta
Sunil Gupta is the Co-founder, Managing Partner & CEO of Yotta Infrast...
Technology Icons Of India 2023: Sachin Bansal
Sachin Bansal’s fintech startup, Navi Technologies, simplifies loan ...
Technology Icons Of India 2023: Rajiv Srivastava
Rajiv Srivastava is the Managing Director of Redington Group. With 35 ...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...