Freight Tiger a Mumbai-based B2B logistics startup has raised $6.5 Mn in an investment round led by Florintree Infra LLP. The round also saw participation from other notable investors like Moonstone Investments, Lightspeed India Ventures, Pawan Munjal Family Trust, and Ritesh Agarwal.
In April 2020, Freight Tiger in its regulatory filing said that it has allotted 43,927 Series B1 CCPS for INR 14.7 Cr to Moonstone Investments. While Lightspeed India received 32,945 Series B1 CCPS to Lightspeed India Partners, at an amount of Rs 11 Cr. Notably, Freight Tiger’s last round of $8 Mn was led by Lightspeed Venture Partners back in 2019. Alsthom Industries and Pawan Munjal Family Trust also participated in the round.
Earlier in 2017, the company had raised $2 Mn. Post this acquisition, Mathew Cyriac, Executive Chairman, Florintree Advisors will be joining the board of this startup following this investment. During his earlier role at Blackstone, Mathew has made two logistics investments, namely, Gateway Rail and Allcargo Logistics.
Freight Tiger was founded back in 2014 by Swapnil Shah, and presently has over 300 shippers and more than 4K transport companies on its platform. The startup has some marquee clients like JSW Steel, Saint Gobain, Dalmia Group, BLR Logistiks, Kohler, Patanjali, and MRF to name a few