Bengaluru-headquartered logistics startup LoadShare has raised around $5 Mn (INR 32 Cr) in Series A funding led by Stellaris Venture Partners. Existing investor Matrix Partners also participated in the round.
According to reports, the newly-secured capital will enable LoadShare to strengthen its leadership team and bolster its tech infrastructure, while also expanding its geographical footprint across the country.
As part of the latest funding round, Alok Goyal, a Partner at Stellaris Venture Partners, is set to join LoadShare’s board.
Commenting on the investment, Goyal said, “LoadShare is a unique opportunity to create an asset-less business in a massive, highly-fragmented, inefficient and a capital-intensive industry.”
LoadShare Growth Story: 2017 To Present
LoadShare was founded in 2017 by former Myntra executive Raghuram Talluri, along with Tanmoy Karmakar and Rakib Ahmed. It provides a technology platform to logistics companies to form an uninterrupted delivery solution. It works with small logistics players to create an analytics-driven platform.
Essentially, the company aims to empower the country’s small and medium enterprises (SMEs) in logistics by offering them access to technology, operational know-how as well as its pan-India network.