Freightify, the ocean rate management platform bringing advanced e-booking functionality to
freight companies of all sizes, today announced it has secured $2.5mn 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 Mr. Vinod Kumar Talreja
also participated in the round.
Freightify features a suite of pricing and sales tools for the ocean freight industry and already
serves customers in over 10 countries. The firm 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.
Freightify’s platform handles more than $400mn in freight revenue for customers and a
corresponding GMV of $2 billion while the SaaS model can scale as the customers grow.
“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 & quotation, to e-bookings
and visibility” said Niklas Holck, CEO at Tradeworks.vc
“We founded Freightify with the belief that the future of technology in freight forwarding
should be democratised and made available for everyone.” Said Raghavendran
Viswanathan, CEO and Co-founder, Freightify. “The current capital expansion from the right
partners cements this belief and helps us add value to the maritime industry across the
world.”
Freightify makes it simple for small and mid-size freight forwarders with little to no
technology expertise to set up an online own branded storefront. This store is powered by
data from various sources including live prices from ocean carriers like Maersk, CMA CGM,
Evergreen, etc. At the same time, offline contract rates from other carriers are automated in
real-time for easy comparison. Further, this can be easily integrated with the freight
forwarders’ TMS systems for operations and fulfilment.
About Freightify:
Freightify (formerly FreightBro), enables freight forwarders of any size for the digitization of
global trade. The brand empowers freight forwarders by providing white labelled rate
automation solutions to digitize their rate procurement, rate management, and quotation
processes with ease. Freightify is backed by marquee accelerators like the Betatron Group,
JioGenNext, and Alchemist Accelerator.
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