Freight management SaaS startp Freightify has raised $12 million in a Series A fundraising round, a mix of equity and debt, led by Sequoia Capital India, with participation from TMV and Alteria Capital as well as current investors Nordic Eye Venture Capital and Motion Ventures.
The startup intends to use the cash to improve its product offerings, add new functionality, develop brand recognition globally, extend its sales presence internationally, create channel alliances, and cultivate channel relationships. Additionally, it intends to hire individuals from other locations, particularly Chennai.
Raghavendran Viswanathan founded Freightify in 2016 with the goal of making it easier for freight forwarders to find, reserve, and track freight. Since then, it has increased the range of services it provides; as a result, freight forwarders can now get, manage, and provide quotes for freight pricing (along with any applicable ancillary fees) in less than two minutes using its platform.
To better service customers, forwarders can set up an online shop. It features track-and-trace options that enable freight forwarders to quickly obtain automatic milestones and real-time vessel positions.
According to the Freightify , more than 200 freight forwarding businesses that offer international logistics services across 45 countries use its services to digitise their operations.