The Bangalore-based logistics startup Loadshare Networks raised undisclosed amount from Venture capital firm Matrix Partners India. Loadshare Networks is a technology-enabled logistics startup, which offers a comprehensive express and logistics services across the country. Apart from the metros, the startup also caters to cities in the North East, Karnataka, Kerala, UP and Rajasthan.
The start-up will use the funds to expand the team and build a technology platform for logistics SMEs who are increasingly adopting technology to improve existing business operations, transact with new customers and expand their network.
The three co-founders of Loadshare have management and sector experience across geographies. Raghuram Talluri, co-founder and CEO, Loadshare, started his career in technology, was then an Associate Partner at McKinsey & Co. following which he led the Customer Experience function at Myntra. Tanmoy Karmakar and Rakib Ahmed, his co-founders, have both built startups and worked in the logistics domain before starting Loadshare.
Commenting on the fundraising, Raghuram Talluri, co-founder & CEO at Loadshare said, “We see a big upcoming change in the logistics sector over the coming decade and at the heart of this change is the logistics SME.”
“SMEs in India are adopting technology rapidly and we believe saas-enabled marketplaces are a great approach to providing value to the Indian SME. Loadshare’s approach to stitch together a network of small courier companies across India by providing them technology is differentiated. The company is off to a fast start and we’re privileged to partner with Raghu and the founding team on this journey,” said Vikram Vaidyanathan, Managing Director, Matrix India.
Loadshare was co-founded in 2017 and is one of India’s fastest growing logistics companies with a comprehensive express and logistics network covering more than 2000 pin codes across North East & East India, Metros, all 4 South Indian states, UP, Rajasthan & many more destinations in the pipeline. The company offers extensive services ranging from the first mile, line-haul, last mile deliveries and modular logistics software solutions to partners.