Homegrown logistics technology platform Kale Logistics Solutions has raised $30 million (around Rs 250 crore) in its Series B funding round led by private equity firm Creaegis Advisors.
The company is looking to use the capital to expand its operations globally, particularly in key markets like the US and Europe.
“The investment will fuel Kale’s mission to develop and deploy robust Cargo Community Systems to transform global logistics beyond regional boundaries,” Kale said in a statement.
Prior to this, the company had raised $5 million in a Series A round in 2020 from technology-focused venture capital firm Inflexor Ventures. Its founders Narendra Kale and Vipul Jain as well as several angel investors, including Rakesh Puri and Manju Puri, had invested in the company’s Series A round which extended till September 2022.
Founded in 2009, Kale Logistics provides a comprehensive suite of tech solutions for the logistics industry. The Mumbai-based company provides a single electronic window capable of supporting operational flows, percolating data to various stakeholders, and facilitating the paperless exchange of trade-related information between stakeholders.
“The global logistics industry is undergoing a rapid digital disruption with a need for intelligent automation and end-to-end visibility through all nodes. This transformation is led by smart and centralised technology platforms, said Prakash Parthasarathy, managing partner and chief executive officer of Bengaluru-based Creaegis.
“Kale, with its category-defining Cargo Community Platforms and a suite of SaaS solutions, is leading this disruption by digitising and automating end-to-end cargo operations in airports and seaports,” he added.
At present, the company has offices in multiple geographic locations, including India, the UAE, Kenya, the Netherlands, and North America. Additionally, it asserts that its technology solutions aid in streamlining the complexities associated with cargo logistics processing at airports, seaports, and customs checkpoints. It has more than 5500 clients worldwide across 36 countries.