Posted by Mumbai: Logistics optimisation platform Matchlog has raised $3 million in its pre-Series A funding round.
Matchlog raised these funds through Blue Ashva Capital, a leading Singapore and India-based VC, Rainmatter Climate and Bangalore based early-stage investor Capital-A.
Matchlog will utilize these funds to build a tech platform further for AI and machine learning-based pairing of cargo across India. And also to grow the multi-modal share in addition to road transport and expand its footprint to more ports in India and abroad.
MatchLog claimed to be the first company in India that offers at scale the ability to turn around a container from an import to export cycle, thereby eliminating unnecessary empty runs to and from the container yards.
This results in significant fuel savings and directly contribute to the decarbonisation goals of the shipping industry. In 2021 MatchLog claimed to have saved 1 million kilograms of carbon emission through its efforts.
“I am glad to partner with marquee investors like Blue Ashva and Raimatter who value and share the same passion of solving the global problem of carbon emission which is our main mission at Matchlog,” said Dhruv Taneja, Founder – MatchLog.
“We will start with India and then expand to the Middle East, Africa and South East Asian markets in the next 12-18 months. At MatchLog, our mission is to reduce at least 100 million tonnes of carbon through our platform in the coming five years,” added Taneja.
According to Satya Bansal, Founder – Blue Ashva Capital, decarbonisation is one of the key foci of the shipping industry globally. Efficient turnaround of containers and reduction of empty haulage can bring efficiency and reduce carbon emissions.
“We’re excited to work with the MatchLog team to contribute our part in making the shipping industry more sustainable,” said Bansal.
“Shipping and logistics is a huge part of the emissions puzzle globally, and Matchlog has taken on the problem of reducing inefficiencies and the footprint inherent in these operations today,” said Sameer Shisodia, CEO – Rainmatter.
“As their reach scales and there is creased visibility intelligence around shipping and logistics, we are excited by the huge optimization possibilities, both economic as well as ecological, this creates for supply chains,” added Shisodia.
“MatchLog has built a landmark algorithm of triangulation by leveraging their extensive domain knowledge and experience. This will bring in tremendous efficiencies in the outbound and inland logistics across India,” commented Ankit Kedia, Founder – Capital-A.