Continental Warehousing Nhava Sheva Ltd has raised $16 million from Aureos India Fund and ePlanet Venture. Continental Warehousing, which mainly operates container freight stations (CFS) at the Mumbai port, will deploy the funds to expand its operations into other cities. The
company plans to increase the number of container freight stations it operates and expand into an end-to-end logistics solution provider.
Continental Warehousing started its operations in 2005 and reported consolidated revenues of Rs 150 crore ($ 31.5 million) in FY 09. The company manages container freight stations in Jawaharlal Nehru Port Trust (Mumbai) and Chennai.
It recently expanded to cities like Tuticorin and Indore, where it will look to expand further with current funding. Part of the Chennai-based NDR Group, the company has a total annual capacity of 170,000 twenty-foot equivalent units, or standard containers.
Continental Warehousing also has a subsidiary called Kaveri Warehousing, which provides warehousing management services for corporate clients.
“Given the growth opportunity in the logistics space due to significant improvements in infrastructure, we believe Continental Warehousing is well positioned to be part of this growth sector,” said Chandrasekar Kandasamy, Managing Director of ePlanet Ventures India. Kandasamy will be joining the board of the company.
Continental is one of the top CFS operators in the country and competes with the likes of Allcargo Global Logistics (which has raised funding from Blackstone) and Gateway Distriparks. Another CFS firm which recently raised funding was container trains operator Innovative
B2B Logistic Solutions (Inlogistics), in which India Value Fund picked up a majority stake.
Other major deals in logistics space this year include Fung Capital’s $30 million investment in Future Supply Chain Solutions and BTS India Private Equity Fund’s investment in Caravel Logistics.
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