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India based digital container logistics optimisation platform, MatchLog has raised $3 million in pre-Series A round funding led by Blue Ashva Capital, Rainmatter Climate, and from Capital-A.
The capital raised will be deployed to develop the tech platform further for AI and machine learning based pairing of cargo across India, grow the multi-modal share in addition to road transport and expand its footprint to more ports in India and around the world.
Speaking on the fundraise, Dhruv Taneja, Founder of MatchLog, said, “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.”
“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,” Taneja said.
Commenting on the investment, Satya Bansal, Founder of Blue Ashva Capital, said, “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.”
“At Rainmatter, we’re always happy to support technology and efforts that can help make a large dent in the climate problem we’re all staring at. 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. 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,” Sameer Shisodia, CEO at Rainmatter added.
Adding to the statement, Ankit Kedia, Founder of Capital-A, said, “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. Further, the sustainable reverse logistics mechanism built by them would also lead to major reduction in carbon emissions and support green transportation.”
“The Indian logistics sector, especially areas such as container movement, has been traditionally held back due to the lack of adequate technology. And now, companies like MatchLog are helping overcome such challenges. They have built an excellent platform that would make a major positive impact on the EXIM logistics, and we are glad to support them in this endeavor,” Ankit further said.