Matrix Partners India announced today that it has invested an undisclosed amount in the logistics-tech startup Loadshare Networks. The funds will be used to expand the team and build a technology platform for logistics SME’s who are increasingly adopting technology to improve existing business operations, transact with new customers and expand their network reach.
The three co-founders of Loadshare have rich 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 fundraise, 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. In a short span of time, we have achieved significant traction evidenced by a) adoption of our tech platform by our SME partners b) being able to offer the lowest cost structure to our customers, while maintaining service levels and c) helping our partners earn more. This strengthens our vision to build an asset-light network across geographies and promote logistics entrepreneurship across the country. We are excited to have Matrix Partners with us in this journey”.
“SME’s 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.