Freightify raised a $12 million in Series A led by Sequoia Capital India, where Trail Mix Ventures and Alteria Capital with returning investors Nordic Eye Venture Capital and Motion Ventures also participated.
Freightify is currently post-revenue, with pay-per-use pricing packages. Freightify’s main competitors, according to Viswanathan, are spreadsheets and “the reluctance of freight forwarders to use technology,” but more are willing to adopt technology, thanks in part to the pandemic’s drive toward digitization. Freightify’s new funding will be used for product development and the introduction of new features, as well as the expansion of its international sales team, channel partnerships, and marketing.
