1 min read.Updated: 10 Jun 2021, 03:57 PM ISTLivemint
The company’s flagship product, known as UPLIFT, is a cargo community platform for airports and seaports which facilitates cross border commerce and cargo digitisation
BENGALURU: Kale Logistics, a logistics tech company, on Thursday said it has raised $5 million as a part of its Series A funding round, led by Inflexor Ventures.
The company plans to use the funds for product enhancement and to grow its business globally, as it looks to deploy the solution at more overseas airports and ports to reach its services to enterprise cargo handling customers.
“Our investment in Kale Logistics fits our thesis of investing in category defining, enterprise grade, vertical SaaS products addressing the global market. The company is led by a stellar team with demonstrated capabilities of executing a global go-to-market strategy. We believe Kale Logistics will play a pivotal role in radically transforming global cross-border commerce at airports and ports led by trade facilitation reforms initiated by the UN and various countries," said Pratip Mazumdar, partner at Inflexor Ventures.
Inflexor Ventures has made this investment from its Fund II. The venture capital firm has already made four investments through its second fund including Steradian Semiconductors, PlayShifu and Vitra.ai.
“Our community platforms for ports and airports have a huge opportunity with demand for digitization accelerating at a fast pace. We are excited about having Inflexor as our investor partner as we move forward towards the next orbit of growth," said Amar More, co-founder, Kale Logistics.
The company’s flagship product, known as UPLIFT, is a cargo community platform for airports and seaports which facilitates cross border commerce and cargo digitisation.
“This is our first fund raise with an external investor and we are happy to partner with Inflexor because of the alignment of vision for the business and their understanding of the SaaS space. We are confident that they will add value to the company as we shift gears to a faster growth trajectory," added Vipul Jain, chairman and co-founder of Kale Logistics.