Freight software solutions provider FreightBro Logistics has announced the integration of Maersk Spot into its digital platform, which will allow customers to book and secure container space online and in real time.
Maersk Spot, launched in 2019 by Copenhagen-headquartered integrated container logistics company Maersk, is an online product that provides customers a cargo loading guarantee at a fixed price.
With the integration, FreightBro aims to double its digital rate deliveries and online bookings by providing a simple airline-booking like experience to the industry. The Chennai-headquartered company claims to have enabled over 500 freight forwarders to sell online using their proprietary digital platform.
“Maersk Spot is indeed a game-changer and our customers can benefit not only from the rate discovery, but they can also search, compare and book instantly, with guaranteed equipment and space availability on the FreightBro platform,” Kathiresan Eswaramurthy, COO, FreightBro, said.
The value of the Indian logistics industry was estimated to be around $160 billion in 2019 and is expected to grow to at least $250 billion in 2020, according to a study by Mumbai-based technology startup iThink Logistics.
Founded in 2016 by Raghavendran Viswanathan, Mohammed Zakkiria and Anand Babu, FreightBro is a freight technology startup aimed at revolutionising the trillion-dollar forwarding industry through digitisation of the manual processes in logistics.
In July last year, it partnered with the Port of Wilhelmshaven in Germany as its official digital partner to facilitate trade and digital transformation of shipping at the German port. FreightBro also partnered with The National Association of Freight and Logistics, Dubai, in June last year, and the two entities signed a Memorandum of Understanding at the Transport Logistic Fair in Munich.
In 2018, FreightBro raised $298,333 in a seed round from Suresh Kumar, former CIO of Bank of New York Mellon, through Pink Rose Capital, for a 15.32% stake through a preferential allotment, according to VCCEdge.
Maersk was founded in 1904 by Arnold Peder Møller and currently operates in 130 countries. It aims to facilitate global supply chains and provide opportunities for customers to trade globally.