Wed. Jun 12th, 2024

New Delhi, 25th April, 2024: MatchLog Solutions, a pioneer in sustainable container logistics and supply chain optimization, today announced the close of $1.5 million in pre-series A funding. The round was led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A.

This funding will enable the company’s shift to a full platform model, emphasizing carbon reduction as a core aspect of its offering. The investment will also expand MatchLog’s market presence, enhance strategic partnerships, and deepen collaborations within the global shipping and port ecosystems.

MatchLog’s innovative triangulation solution, which pairs import containers with export requirements, effectively eliminates unnecessary dry runs and reduces the trips containers make back to depots when empty. This practice not only lowers operational costs but also significantly cuts carbon emissions by minimizing needless transport. With its expansion, MatchLog is set to increase its footprint and scale in India, thereby maximizing efficiency in container usage and transport logistics. This strategic growth is projected to handle around 4-5 million containers annually, resulting in a substantial reduction of 200,000 metric tonnes of carbon emissions each year.

Speaking about this, Dhruv Taneja, Founder and CEO, MatchLog, said, “”Our transition from a marketplace to a platform model is aimed at scaling our operations and increasing our sustainability efforts. Since starting our operations, we’ve managed 200,000 containers and improved their efficiency by around 50%. This has reduced our carbon emissions by 40,000 metric tonnes, contributing significantly to the reduction of the container logistics carbon footprint in India. Looking forward, we plan to handle 2 million trips annually, aiming to cut an additional 800,000 metric tonnes of emissions and save over $100 million in freight costs. We are thankful to our investors for their trust and commitment to our mission and innovation in the industry.”

Vansh Oberoi, Chief Investment Officer, Venture Catalysts said, “MatchLog’s transformation and expansion exemplify our belief in their capability to redefine global logistics. Their commitment to sustainability and efficiency is setting new standards in the industry.”

Cliff Tan, Investment Principal, 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.”

Speaking about this, Ravindra Krishnappa, General Partner, July Ventures said, “We are thrilled to welcome MatchLog into our portfolio. As the lead investor in this round, we are looking forward to supporting the well-knit team in their next chapter of growth. MatchLog has proven its mettle in Container (EXIM) matchback optimization. We at July Ventures are bullish about the supply chain and logistics domain—especially on investing in a unified multi-modal digital platform. In conjunction with our other investments in the sector, we are confident that MatchLog will fill a key piece of that puzzle”.

Adding to this, Satya Bansal, Founder, Blue Ashva Capital said, “MatchLog’s platformized approach for reducing empty haulage resonates deeply with our vision, merging efficiency and sustainability. Since our initial investment, MatchLog has significantly advanced its business model, achieving a 10x increase in container movement visibility and forging robust partnerships with global shipping liners”.

Speaking about the investment, Ankit Kedia, Founder, Capital A said,

“MatchLog’s platform is helping lower the carbon footprint of a very intensive business vertical. At Capital A, we have always backed startups with a purpose for the planet. Supporting MatchLog’s journey to transform logistics reflects our commitment towards this end.”

The leadership team, including Co-founder and Chief Business Officer Harsh Vardhan Gupta, CPTO Manish Singh, who has been elevated to Co-founder and newly joined Co-founder and Chief Strategy Officer Abhishek Baheti, continues to drive MatchLog towards achieving its goals of optimized logistics and environmental conservation. In 2022, MatchLog raised $3 million from Blue Ashva Capital, Rainmatter Climate Technologies, and Capital-A, further strengthening its platform for future growth.

Disclaimer: Information in this release is for informational purposes only. While we aim for accuracy, we can’t guarantee completeness or suitability for specific purposes. Reliance on this information is at your own risk.

By Prabhat

Leave a Reply

Your email address will not be published. Required fields are marked *