Matrix-backed LoadShare raises INR 300 Cr Series C

1st February 2022. Bengaluru: LoadShare Networks, one of India's fastest growing asset light logistics platforms, announced today that it has raised a Series C investment of INR 300 Cr led by Tiger Global and with participation from Filter Capital, 57 Stars and existing investors CDC Group Plc and Matrix Partners India. A few prominent family offices also participated in the round.

Since the company's Series B round in March 2020, LoadShare has expanded its scope of operations to now having a significant presence in quick delivery of food, grocery, dark store operations in addition to their original business lines of regional e-commerce and regional part truck load operations for enterprises. They have geographically scaled up from East, Tier 2/3 heavy ops to a true pan-India play across metros and upcountry. They deliver 2.5 lac+ orders per day on last mile and 300+ tonnes per day in regional trucking across more than 18 states, 500+ towns.

"Now is perhaps the most exciting time to be in supply chain ops in India. From quick commerce to enterprise supply chains, logistics industry is undergoing a massive transformation. We have been able to scale up 5X from our Series B scale due to strong macro tailwinds and staying close to our customers. We also unlocked other tech driven, non-linear growth opportunities for SME truckers and delivery boys, in addition to the core ops engine. We plan to further invest in 5 key themes: building a world class team, build distinctive SME logistics tech, deepen our EV push, improve customer experience and deepen our unique regional logistics and warehousing network to enable faster deliveries,' said Raghuram Talluri, Co-founder & CEO of LoadShare

"LoadShare's technology enables India's SME logistics providers to act as one, creating a national transport network with low cost and high flexibility" said Griffin Schroeder, Partner, Tiger Global. "We're excited to back Raghu, Pramod and their experienced team as they densify their network and expand their product offering.'

"LoadShare's capable, execution-oriented team, led by Raghu, Pramod and Rakib have developed a unique logistics network that its customers view as mission-critical and core to their businesses, all the while paying close attention to cost efficiencies, sustainability, and scale potential,' commented Sumit Sinha, Managing Partner, Filter Capital

"We are pleased to see LoadShare's growth as it continues to extend impact across communities. India's sustainable social and economic growth will be enhanced by businesses like LoadShare that are stepping into the market gap during challenging times, to meet the needs of people and keep the economy moving. CDC's renewed investment in LoadShare demonstrates our confidence in the business and a joint goal of accelerating productive and inclusive growth in India, through job creation, upskilling of workers, and increased opportunities for local entrepreneurs,' commented Srini Nagarajan, Managing Director and Head of Asia, CDC Group PLC

"We've been fortunate to be part of the LoadShare journey from day zero. Their ability to adapt and be flexible with the changing needs of their customers is testament to the asset-light and technology-led model for logistics they have created. The outstanding growth over the last few years and the quick expansion into emerging categories like quick-commerce reinforces the strength of this model. We welcome Tiger Global, Filter Capital and 57 Stars to this exciting partnership. #justgettingstarted' said Rajinder Balaraman, Managing Director, Matrix India

About LoadShare:
LoadShare was founded in 2017 by Raghuram Talluri, Pramod Nair and Rakib Ahmed, who have had strong experience in supply chain and technology. LoadShare's mission is to solve for their customers' toughest logistics challenges using the power of small and medium logistics entrepreneurs. It offers a range of solutions from last mile / first mile (10 min quick commerce ,30 min food deliveries, intra day e-commerce deliveries) to regional trucking to warehousing, including regional end to end logistics. To learn more about LoadShare, visit www.loadshare.net

About Tiger Global:
Tiger Global is an investment firm focused on public and private companies in the global Internet, software, consumer, and financial technology industries. Since 2003, their private equity business has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. They aim to partner with dynamic entrepreneurs operating market-leading growth companies For further information, please visit www.tigerglobal.com

About Filter Capital:
Filter Capital is a growth investment firm that seeks to partner with exceptional Indian entrepreneurs who are leveraging technology to build enduring businesses. The fund targets opportunities in sectors such as consumer technology, software, technology services, financial technology and B2B platforms. Filter Capital's portfolio companies include Chalo Mobility, a bus ticketing and tracking platform, and Capillary Technologies, a loyalty software provider. For further information, please visit www.filtercapital.com

About 57 Stars:
57 Stars LLC is an independent global alternative asset manager focused on private equity and venture capital investments in sectors characterized by long-term dynamic growth benefiting from innovation, technological disruption, rapid adaption, and adoption. They have raised and manage USD 4B+ of investments in more than 200 portfolio companies.

About CDC:
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. The company has investments in over 1,200 businesses in emerging economies and a total portfolio value of £5.8bn. 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 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 (mobility), Dailyhunt (mobile local language platform), Razorpay (payments), OfBusiness (B2B Commerce, fintech), Five Star Business Finance (SME lending), Ola Electric (electric vehicles), Stanza Living (tech-enabled student housing platform), OneCard (mobile-first credit card), Country Delight (D2C dairy & fresh foods brand), GoKwik (e-commerce enablement platform), Captain Fresh (seafood marketplace), Bijnis (B2B platform for factories), MoEngage (intelligent marketing cloud platform), Mswipe (mobile POS), and Zupee (leading skill-based gaming app) 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. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.