Freightify raises $2.5 mn in pre-Series A funding led by Nordic Eye Venture Capital, others

Freightify raises $2.5 mn in pre-Series A funding led by Nordic Eye Venture Capital, others

FPJ Web DeskUpdated: Tuesday, July 27, 2021, 11:58 AM IST
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Freightify will use the proceeds to invest in expansion into the US and Europe. | Freightify

Freightify, the ocean rate management platform bringing advanced e-booking functionality to freight companies of all sizes, today announced it has secured $2.5 millon in pre-Series A funding led by Nordic Eye Venture Capital with the participation of Tradeworks VC, Venture Catalysts, 9Unicorns, and Blume Founders Fund. Existing Investor Vinod Kumar Talreja also participated in the round.

Freightify will use the proceeds to invest in expansion into the US and Europe. The company also plans to invest in its product ecosystem covering other stakeholders of the container supply chain.

“Exciting to follow a dynamic and ambitious organization that has great chances of making a huge digital impact in International freight forwarding. We encourage the global outlook and is impressed about the common vision for the company” said Nordic Eye’s Investment Manager Ib Drachmann.

“We invest in ‘Digital Trade Enablers’ that drive trade through innovation, by solving important problems in Logistics and eCommerce. One of these important problems is the lack of structured commercial data that can be used across the freight forwarding value chain, from freight rate procurement, standardisation, automation and quotation, to e-bookings and visibility” said Niklas Holck, CEO at Tradeworks.

Raghavendran Viswanathan, CEO and Co-founder, Freightify said, “We founded Freightify with the belief that the future of technology in freight forwarding should be democratised and made available for everyone. The current capital expansion from the right partners cements this belief and helps us add value to the maritime industry across the world.”

Freightify (formerly FreightBro), enables freight forwarders of any size for the digitization of global trade. It is backed by marquee accelerators like the Betatron Group, JioGenNext, and Alchemist Accelerator.

FreightBro recently announced its rebranding to Freightify. The firm’s rebranding is due, in large part, to their expansion into the global market.

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