Freightify raises pre-Series A round of US$2.5 mn, looks for expansion and make rate management easier

The ocean rate management platform, Freightify (formerly FreightBro), that brings advanced e-booking functionality to freight companies of all sizes, recently announced it has secured US$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 angel investor Vinod Kumar Talreja also participated in the round.

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

Niklas Holck, CEO at Tradeworks said, “We invest in ‘Digital Trade Enablers’ that drive trade through innovation, by solving important problems in Logistics and e-commerce. 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.”

Freightify said it 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 enables freight forwarders of any size for the digitisation of global trade. It is backed by marquee accelerators like the Betatron Group, JioGenNext, and Alchemist Accelerator.

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.”

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