SUMMARY
Co-led by Motion Ventures and July Ventures, the funding round also saw participation from Venture Catalysts, Blue Ashva Capital, and Capital A
The fresh funding will be utilised to expand the startup’s footprint and enhance strategic partnerships with stakeholders
Founded in 2019, MatchLog operates a unified multimodal digital logistics platform that aims to optimise cargo and container movements by pairing import containers with export requirements
Cargo container reuse platform MatchLog Solutions has raised $1.5 Mn in its pre-Series A funding round co-led by Motion Ventures and July Ventures. The round also saw participation from Venture Catalysts, Blue Ashva Capital, and Capital A.
Founded in 2019 by Dhruv Taneja, MatchLog operates a unified multimodal digital logistics platform that aims to optimise cargo and container movements. The startup does this via its triangulation solution that pairs import containers with export requirements, which eliminates unnecessary dry runs and reduces the trips containers make back to depots when empty.
The startup claims its solutions lower operational costs and cut carbon emissions by minimising needless transport.
In a statement, MatchLog said that the funding will enable its shift to a full platform model and help it expand its market presence.
The startup plans to expand its footprint and scale in India and enhance strategic partnerships with stakeholders in the global shipping and port ecosystem.
Commenting on the fundraise, MatchLog founder and CEO Dhruv Taneja said, “… Looking forward, we plan to handle 2 Mn trips annually, aiming to cut an additional 8,00,000 metric tonnes of emissions and save over $100 Mn in freight costs.”
Meanwhile, Cliff Tan, investment principal at Motion Ventures, said, “Our investment reflects our strong belief in MatchLog’s platform-first approach, which enhances logistical efficiency and significantly reduces the environmental impact of global trade. We are confident that this strategic collaboration will strengthen MatchLog’s market presence and establish new benchmarks for sustainable practices in logistics”.
In the statement, the startup also announced the elevation of CPTO Manish Singh as its new cofounder and onboarding of Abhishek Baheti as its new cofounder and chief strategy officer. It is pertinent to note that chief business officer Harsh Vardhan Gupta also serves as a cofounder of MatchLog.
Prior to this, the startup raised $3 Mn from Blue Ashva Capital, Rainmatter Climate Technologies and Capital-A in 2022.
MatchLog claims to have managed 2 Lakh containers since its inception and plans to handle 20 Lakh trips annually in the near future.
MatchLog is looking to capitalise on the growing maritime shipping as well as imports and exports out of India. Banking on factors such as ecommerce expansion, rising demand and digitalisation in container shipping, the startup aims to grab a bigger pie of the burgeoning cargo transportation market.
On top of that, the space is also expected to further pick up on account of businesses looking to optimise costs, transport routes and equipment utilisation. As per a report, the homegrown container market is slated to grow to a size of $10.3 Bn by 2028.
