India's fastest-growing technology-enabled freight forwarding startup Freightwalla, that had raised an undisclosed amount in its seed round in December, has used the funding to further enhance its platform, freightwalla.com, with robust facilities for importers and exporters.
Operational since 2017, freightwalla.com is a full-stack platform for businesses to plan, book and manage their international freight shipments online.
In 2018, Freightwalla had raised seed capital from early stage venture capital firms Kae Capital and Tekton Ventures. Keeping in tandem with its initial plans, Freightwalla has been utilising the seed capital to expand its technology platform, improve sales reach and increase operational capacity to match the demand.
The company has leveraged part of the funding for automated creation and management of documentation for large international shipments. It has also created a simplified interface for enterprise clients having large shipment volumes, to help them manage their internal workflow using digitization and automation of the processes involved; thus, improving the over-all efficiency in terms of time and finances.
Freightwalla has also been allocating funds for expansion in terms of human resources and operational capacity. Over the period of a year, Freightwalla witnessed an increase of 450 per cent in terms of human resources and a whopping 700 per cent rise in the overall business. The team at Freightwalla has dynamic industry experts and veterans from leading multinational freight forwarding companies working towards improving and refining the overall process.
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Traditional freight forwarding is a highly manual process, leading to several errors, causing companies to lose money. To address this issue, Freightwalla has focused on digitizing its freight forwarding process, resulting in an overall decrease in the occurrence of errors which has reduced the overall cost of logistics and saved time for clients. The company's upgraded digital process offers services like online documentation, planning tools, rate discovery, real-time updates, container tracking and trace along with other value-added services.
"The size of opportunity in this space is enormous. The funding has enabled us to come up with cutting-edge freight management tools, make optimal data-backed freight decisions, track shipments real-time, and analyze logistics expenditure and performance online. This is a time when customers are also more open to adopting new technologies rapidly, as the value proposition strengthens improving the potential productivity and resulting in cost savings," said Sanjay Bhatia, CEO of Freightwalla.
Freightwalla has been working with firms across a range of industries including finished goods such as toys, homewares, textiles and food and agricultural products. The company's mission is to build a service that addresses the modern business needs of simplicity and transparency for shippers worldwide. With a mix of state-of-the-art analytics, automation and logistics technology, it aims at tackling the inefficiencies involved in moving goods internationally, taking the stress out of global shipping.
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