LoadShare's logistics company raises $100 headed by BEENEXT, others

The company has generated over 3,000 new jobs through its partner ecosystem and will continue to focus on this. LoadShare has extended its geographic presence beyond the northeast, where the business started operations for the first time in two years.
BENGALURU: LoadShare Networks, a logistics company, has raised a Series B financing round of approximately 100 crore led by BEENEXT along with CDC Group participation.

Also taking part in this round were current investors Matrix Partners India, Stellaris Venture Partners and venture debt suppliers Alteria Capital.

The business said the funds will be used to expand customer base, invest in technology and look at regional expansion. It also plans to use the proceeds to expand its network and move into sectors like pharmaceuticals, fast-moving consumer products, and critical supply foodstuffs.

"This expenditure is crucial as it allows us to enhance our customer engagement and to keep building capacity through technology acquisitions, hiring the best talent, expanding geographically and pursuing new initiatives (especially hyperlocal distribution and critical movement)," said Raghu Talluri, Chief Executive, LoadShare.

The startup has created more than 3,000 new jobs through its partner ecosystem over the past 12 months, and will continue to concentrate on this, he added.

LoadShare also supports small and medium-sized enterprises (SMEs) with technology in logistics, allowing them to operate know-how across a pan-India network.

"LoadShare operates in an addressable $20 billion deep market that is experiencing a structural shift. The execution of LoadShare through different logistics segments, facilitated by their tech-driven marketplace model working with SMEs, makes it exciting for us to partner with them, "said BEENEXT founder and managing partner, Teruhide Sato.

LoadShare has expanded its geographic presence outside the northeast, where the company began operations for the first time, in the last two years. This has grown to more than 400 cities and 18 states, with a emphasis on eastern states.