MatchLog Solutions Secures $1.5 Million in Pre-Series A Funding

• ByStartupStory     |    April 27, 2024

MatchLog Solutions, a prominent container logistics and supply chain firm, has successfully raised $1.5 million in a pre-series A funding round aimed at transforming its operational model and reducing the environmental impact of the logistics sector. The funding round saw active participation from several venture capital firms, including Motion Ventures and July Ventures leading the round, along with Venture Catalysts, Blue Ashva Capital, and Capital A.

This significant financial injection is set to propel MatchLog towards a platform-based model with a sharp focus on reducing carbon emissions. According to the press release issued on Friday, the funds will facilitate the expansion of MatchLog’s market presence, enhance strategic partnerships, and deepen collaborations within the global shipping and port ecosystems.

Dhruv Taneja, founder of MatchLog, highlighted the company’s achievements and future ambitions, stating, “Since starting our operations, we’ve managed 200,000 containers and improved their efficiency by around 50%. This has reduced our carbon emissions by 40,000 metric tonnes, contributing significantly to the reduction of the container logistics carbon footprint in India.” Taneja added, “Looking forward, we plan to handle two million trips annually, aiming to cut an additional 800,000 metric tonnes of emissions and save over $100 million in freight costs. We are thankful to our investors for their trust and commitment to our mission and innovation in the industry.”

Since its establishment in July 2019, MatchLog has been at the forefront of optimizing cargo, container, and trailer movements to minimize operational wastage. The company’s strategic growth plans involve increasing its operations in India, aiming to manage four to five million containers annually, which could lead to a reduction of approximately 200,000 metric tonnes of carbon emissions each year.

Ravindra Krishnappa, general partner at July Ventures, expressed enthusiasm about the investment, saying, “We are thrilled to welcome MatchLog into our portfolio. As the lead investor in this round, we are looking forward to supporting the well-knit team in their next chapter of growth. In conjunction with our other investments in the sector, we are confident that MatchLog will fill a key piece of that puzzle.”

Ankit Kedia, founder of Capital A, also commented on the vision behind their investment, “MatchLog’s platform is helping lower the carbon footprint of a very intensive business vertical. At Capital A, we have always backed startups with a purpose for the planet. Supporting MatchLog’s journey to transform logistics reflects our commitment towards this end.”

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