Lobb is a logistics startup that raised $2.9 million in a round from its investors. This funding round saw the participation of 3one4 capital and other entrepreneurs, including Rajesh Voddiraju, Divyasree Developers chairman P Shyama Raju, Ensoftek’s CEO Ramana Reddy, Intel Corp’s Giri Pasumamula, and Voya India CEO Sharada Nandakumar. Here, we are talking about Logistic startup Lobb secured $2.9 million from 3one4 Capital and other investors.
According to the company filing, the startup will use these fresh proceeds to scale its operations, enhance its technologies, optimize its supply chain, and expand its network in more than 50 geographies for high-density routes. The startup focuses on scaling up and expanding its network across other geographical regions. The company is focused on achieving a net revenue of Rs 500 crore in the next two years. Lobb currently operates in more than 22 cities across the country. The company announced that the fleet owners using Lobb increased their firm’s revenue by 30 percent. This logistics company will also focus on strengthening its logistic capabilities and meeting production gaps while meeting the changing trends.
Lobb offers a platform with reliable, growth, efficient, and consistent transportation services. The firm leverages advanced technologies to offer automated load matching, real-time transaction settlements, competitive pricing, and a verified trucker network. The company aims to offer transportation services across India that are more efficient, reliable, and easier for everyone. This logistic startup plans to enhance its logistic solutions and services to meet the market demand by offering supply chains and other services to small businesses in the industrial sectors. The company plans to use this investment to enhance its platform, expand its network, and advance its technology.
The CEO and co-founder of Lobb, Venu Kondur, mentioned that this investment would help the startup carry out market expansion and accelerate its technological growth. The startup aims to scale its business and expand its network across India using this investment. The company wants to grow its team and strengthen its technology with machine learning and generative AI. The partner of 3one4 Capital, Anurag Ramdasan, mentioned that the firm uses a platform integrated with insurance for truckers, GPS navigation, and oil majors for fuel.
Conclusion
Lobb is a logistics service provider that secured 2.9 million USD in its new funding round. The round saw the participation of the firm’s new and existing investors, including 3one4 Capital, Ensoftek, Intel Corporation, and Voya India. This logistic startup intends to use these fresh proceeds to enhance its services by using more advanced technologies, scaling up its operations, optimizing its supply chain, and expanding its network in more than 50 geographies for higher-density routes.
The startup covers Bengaluru and nearby cities and plans to expand its network with fresh capital. The firm works with over 1200 logistic companies, over 5000 fleet owners, and 30,000 trucks. Lobb currently operates in over 22 cities across the country. Lobb plans to achieve Rs 500 crore in revenue in the next two years. This logistic startup plans to enhance its logistic solutions and services to meet the market demand.
