Singapore-based logistics and freight management platform Ezyhaul, which has operations in India, has raised $16 million (Rs 109.65 crore at the current exchange rate) in its Series-B round of funding.
The three-year-old start-up will utilise the latest round of funding to expand to new markets in South Asia, an official statement said today. It will also use the funds to ramp up its technology platform and product.
However, it did not disclose any information about the identity of the investors who participated in the funding round.
The Indian arm of Ezyhaul is operated by Mulura Logistics Pvt Ltd. It entered India last year after it raised $5 million as part of its Series-A round of funding.
Ezyhaul was founded in 2016 by Raymond Gilllon , Nicky Lum and Indian-origin Mudasar Mohamed, former employees of Denmark-based logistics firm Uti Worldwide.
Ezyhaul users can make online bookings for domestic and cross-border transportation services, the statement said. Some of the features of its product offerings include integrated dynamic route optimisation ,real-time track and trace visibility , access to electronic documentation, invoicing & e-PODs (proof of delivery). Besides, clients also get access to online reporting and analytics, the statement said.
The company, which claims to have transported more than 50 million kg of freight in 2018, counts Coca Cola, Reliance Industries, Exide Industries, HIL, DHL and DB Schenker among its clientele.
Co-founder and CEO Gillon is an MBA alumnus from INSEAD and has worked in logistics companies including TNT , which later became Fedex Express. He has also worked in the Netherlands’ arm of management consulting major KPMG .
Mohamed, who is also the company’s COO, is an engineer-MBA, and has worked with companies like Gati, Amtrak and Bank of America.
Lum, the third co-founder and director of sales, is a sales and marketing professional, and has worked with companies like Panalpina and Kuehne +Nagel.