Loadshare Networks receives funding from VC firm Matrix Partners

Loadshare Networks, a technology-enabled logistics startup that offers a comprehensive express and logistics services across the country, has received an undisclosed amount of capital from venture capital firm Matrix Partners. The Bangalore-based startup is expected to leverage the funds to expand its team and build a technology platform for logistics SMEs who are increasingly adopting technology to improve existing business operations, transact with new customers and expand their network reach.

Raghuram Talluri, co-founder and CEO of Loadshare, said that “We see a big upcoming change in the logistics sector over the coming decade and at the heart of this change is the logistics SME. Loadshare’s approach to stitch together a network of small courier companies across India by providing them technology is differentiated. The company is off to a fast start”.

With e-commerce booming in the country, technology-based logistics companies have become hot cakes for the venture capital firms. The long discount cycles and jaw-dropping prices have given way to faster delivery and customer experience in the recent past with the customers increasingly opting for services such as Amazon Prime and Flipkart First to get hands on the products earlier than expected. To cater to this need, the logistics have become the focus segments for ecommerce players leading to investments pouring into the sector.