Digital freight brokerage platform Lobb raised $1.1 million in funds led by Byju Pillai, group managing director, Inflow Technologies and angel investor Gopal Kaul where 3one4 Capital and other investors including, Srinath Ramakkrushnan (Zetwerk & Ofbusiness), Mohit Mittal (Southern Cargo Carriers), M D Ramaswami (former MD, Dell India) and Vishad Gupta (Fidelity Information Services, India) also participated.
Lobb is a Digital Freight Brokerage platform on a mission to collaborate with the next billion netizens and disrupt logistics digitally. According to the company, the new funds will be used primarily to scale the business and expand Lobb's network into newer geographies in India. It also intends to strengthen its technology in order to automate tasks, expand its team across functions in order to increase fulfilment ratios, and acquire more customers — i.e., by adding more truckers and transporters to the platform. Lobb is currently operational in 12 cities across India, including Bengaluru, Chennai, Mumbai, and Pune, and works with over 500 logistics companies. It intends to expand to another 20 cities within the next eight months, giving it a pan-India reach.