4th May 2020. Bengaluru: LoadShare Networks, one of India’s fastest growing asset-light logistics platforms, announced today that it has raised a Series B investment of INR 100 cr led by BEENEXT along with participation from CDC Group Plc, and existing investors Matrix Partners India, Stellaris Venture Partners and venture debt providers Alteria Capital.
Over the last 2 years, LoadShare has increased its regional footprint beyond the North East, where the company first started operations, to 18 states and over 400 towns, with a focus on the Eastern states. LoadShare has built on its expertise in e-commerce logistics to serve clients in non-e-commerce businesses (CPG, industrials) in a variety of areas such as regional trucking (part truck loads, full truck loads) and distributor/brand to store logistics. It plans to utilize the fresh funds to expand its network and foray into sectors such as pharmaceuticals, FMCG and grocery for delivery of essentials.
“This investment is a recognition of our ability to work with clients across their toughest logistics challenges, providing a strong customer experience-cost proposition. It is timely as it helps us deepen our engagement with clients and continue building capabilities through investments in technology, attracting the best talent, geographic expansion and undertaking new initiatives (especially, hyperlocal delivery and movement of essentials). Over the past 12 months, we have been able to create 3000+ new jobs across our partner ecosystem, and we will continue focusing on this aspect as we grow further.” Raghu Talluri, CEO, LoadShare
“LoadShare is operating in a deep 20B$+ addressable market, which is undergoing a fundamental change. LoadShare’s execution across different logistics segments, enabled by their tech enabled marketplace model working with SMEs makes it exciting for us to partner with them. We found the team to be extremely capable and innovative, and are excited to be on this journey with them.” Said Teruhide Sato, Founder and Managing Partner, BEENEXT
“CDC is delighted to have co-invested in LoadShare alongside Stellaris Venture Partners. Logistics is a major cost of business in India and this investment demonstrates our continued goal to support increased market access for small businesses and provide economic opportunities for low-income workers in some of the most remote regions in India. We recognised in LoadShare, an opportunity to deliver greater impact through its technology-enabled, asset-light platform.” Commented Srini Nagarajan, Managing Director and Head of Asia, CDC Group PLC
“We are very proud to have partnered with LoadShare since an early stage. Their model of building a country-wide logistics network by enrolling smaller, regional logistics service providers as franchisee partners is truly unique, and allows them to build a highly capital efficient, asset less logistics company. We are delighted to see the remarkable growth of the regional part truck load (PTL) business as well as their last mile business over the last 2 years.” Said Alok Goyal, Partner, Stellaris Venture Partners
“LoadShare is playing a very significant role in ensuring supply chain continuity in these uncertain times. With their unique technology-led model of working with local SME’s, they provide customers fantastic flexibility and reach at lower costs. These are important differentiators especially in tier 2-4 cities, the next big growth market for most companies. We welcome BEENEXT and CDC to this partnership and look forward to supporting Raghu and the team as they own regional logistics opportunity.” Said Rajinder Balaraman, Director, Matrix India
LoadShare was founded in 2017 by Raghuram Talluri, Pramod Nair and Rakib Ahmed, who have had strong experience in supply chain and technology. LoadShare offers a range of solutions from hyperlocal/intracity B2C deliveries, regional intercity and intracity PTL and FTL solutions, to intracity B2B distribution logistics. LoadShare enables small and medium enterprises (SME) in logistics with technology, operations know how and a pan-India network. To learn more about LoadShare, visit www.loadshare.net
BEENEXT is a Venture Capital fund managed by serial entrepreneurs and focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech startups that build the new digital platforms driven by the data network effects. BEENEXT aims to establish a platform of the founders, by the founders and for the founders across the globe, primarily in India, South East Asia and Japan. Since established in 2015, the team has invested in over 180 companies globally including 71 companies in India. Some of the leading companies are such as NoBroker, BharatPe, Open, Mobile Premier League, Healthians, Zilingo, Sendo and SmartHR from their early days of the journey. Further information available at www.beenext.com
About CDC Group:
CDC Group is the UK’s first impact investor with over 70 years of experience of successfully supporting the sustainable, long-term growth of businesses in South Asia and Africa.CDC is a leading player in the fight against climate change and a UK champion of the UN’s Sustainable Development Goals – the global blueprint to achieve a better and more sustainable future for us all. The company has investments in over 1,200 businesses in emerging economies and a total portfolio value of £5.8bn. This year CDC will invest over $1.5bn in companies in Africa and Asia with a focus on fighting climate change, empowering women and creating new jobs and opportunities for millions of people. CDC is funded by the UK Government and all proceeds from its investments are reinvested to improve the lives of millions of people in Africa and South Asia. CDC’s expertise makes it the perfect partner for private investors looking to devote capital to making a measurable environmental and social impact in countries most in need of investment. Further information available at www.cdcgroup.com
About Stellaris Venture Partners:
Stellaris is an early stage venture capital firm that invests in the seed and series A rounds of Indian technology companies. The firm backs bold entrepreneurs that solve large India-specific problems for consumers and SMBs, or build global software products from India. Key investment areas include online services, healthcare, education, retail, logistics, SaaS and tech-enabled financial services. Since its inception in 2017, Stellaris has backed several market leaders such as Mamaearth, Vogo and Whatfix. For more information on Stellaris Venture Partners, visit www.stellarisvp.com
About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Limeroad (social e-commerce platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Ola Electric (multimodal electric vehicle platform), Razorpay (payments), Stanza Living (tech enabled student housing platform), Vogo (scooter sharing), and Cloudnine Hospitals (leading chain of maternity hospitals), among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in