Inflexor-backed Kale Logistics raised $30 M Series B funding from Creaegis Advisors
In a Series B funding round, led by the private equity fund Creaegis Advisors, Kale Logistics has secured $30 million.
The logistics-focused SaaS company raised $5 million in a Series A round in June 2020, which was led by Inflexor Ventures. Additionally, the business raised a modest amount in September of last year at a $75 million valuation. In the new round, the company has not revealed its valuation.
According to a press release from the company, Kale Logistics plans to use the additional funding to increase the scope of its operations in the US and Europe.
The 13-year-old Kale Logistics offers airports and logistics companies software. It claims that its technological solutions lessen the difficulties associated with processing cargo logistics at airports, seaports, and customs checkpoints.
The “Cargo Community Platform,” the company’s flagship product, provides two parties with a single source of data to support operational flows and enable paperless trade-related data exchange. Several comparable SaaS solutions are among Kale’s other offerings.
Serving more than 5,500 customers from 36 countries, it is currently present at more than 100 ports and airports around the world. Although Kale Logistics has yet to submit its FY23 financial statements, TheKredible, a data intelligence platform, estimates that it generated Rs 52.63 crore in revenue in FY22. During the fiscal year that ended in March 2022, the company was also profitable.
LetsTransport, Locus, and Cogoport are a few of Kale Logistics’ competitors.
In July of this year, LetsTransport raised $25 million with the help of Bertelsmann and others, while Cogoport and Locus each raised $50 million in April 2022 and June 2021, respectively.
