Loadshare raises $40 Mn in Series C round

Logistics platform Loadshare has raised $40 million (about Rs 300 crore) in a funding round led by Tiger Global. Filter Capital, 57 Stars, existing investors CDC Group and Matrix Partners India, and a few prominent family offices also participated in the round.

Entrackr had exclusively broke this news last week.

The Bengaluru-based startup plans to further invest in hiring, building logistics technology and adopting more electric vehicles into its fleet.

Founded in 2017 by Talluri, Pramod Nair and Rakib Ahmed, Loadshare offers a range of logistics solutions including 10-minute quick commerce, 30-minute food deliveries, intraday e-commerce deliveries and regional trucking to warehousing.

The startup delivers more than 2,50,000 orders per day on the last mile, and over 400 tonnes per day in regional trucking across 18 states.

The firm claims to run an asset-light business and largely focuses on regional transportation of goods for tech companies like Swiggy, Flipkart and Amazon, and FMCG firms like Hindustan Unilever and Procter & Gamble.