Lahore-headquartered digital freight market BridgeLinx has increased $10 million in the country’s largest seed round, it declared. The round which is also one of the biggest seed rounds of the territory was spreadhead by Harry Stebbings’ 20 Josh Buckley’s Buckley Ventures, and Indus Valley Capital.
The startup stated that the deal was oversubscribed almost double and comprises the involvement of Wavemaker Partners, TrueSight Ventures, Flexport, Quiet Capital, Soma Capital, Untitled, and a few of the biggest business clusters of Pakistan, comprising Maple Leaf Capital. Many angel investors comprising the Founder of Convoy and Bazaar also connect with the round.
Established in late 2020 by Muhammad Saad, Salman Gul, Abbas Hassan, and Ahsan Tanveer, BridgeLinx assists businesses, majorly big retailers and manufacturers, moving freight by linking them with carriers through its online market. inaugurated nine months ago, the startup asserts to keep track of thousands of couriers that are shifting thousands of freight every week for a few of the biggest shippers in Pakistan.
It did not share the actual numbers stated its podium is stand utilized by the nation’s biggest textile units, agro-businesses, chemicals companies, cement manufacturers, electronic manufacturers, and online marketplaces, “Over a 5th of Pakistan’s top hundred exporters energetically utilize BridgeLinx to move freight.”
The podium gives an end-to-end solution for cargo procedures, beginning with matching the payments. Businesses can utilize BridgeLinx mobile app to book various kinds of vehicles to shift their load. Using calendaring and planning technology matches them with the very trusted, affordable, and productive transport partner, BridgeLinx records on its website, stating that the app allows clients to track shipments live. The podium also gives reach to all documents regarding shipment.
Salman Gul, co-founder and CEO of BridgeLinx, stated, “With logistics averaging at 10% of GDP internationally, developing technology to optimize and build visibility around world supply chains is a trillion-dollar prospect. At BridgeLinx, we are on a desire to redescribe the method in which businesses handle supply chains – from purchase and shipping to warehousing and distribution. Our journey begins with land freight in Pakistan, and the talent-dense team we are building is extremely honored to be supported by a few of the prominent investors from all over the globe.”
Harry Stebbings of 20VC, stated in a report, “For me, the best investments merge excellent, classification describing business people with macro headwinds. BridgeLinx is only that – a team of phenomenal businessmen functioning in a space with limitless possibility.”
20VC and Buckley Ventures had currently also co-led $85 million Series B of Airlift, a Pakistani fast commerce startup. Indus Valley Capital, a previous investor in the corporation had also engaged in the deal.
Saying about the investment in BridgeLinx, Aatif Awan management partner of the Indus Valley Capital, stated, “BridgeLinx has cracked the code for making end-to-end freight work in an obstacle-free way and hence marked up a few of the top businesses in Pakistan. We trust this team in its manner to get exceptional productivities to the economy of the nation and are truly eager to partner with them,” stated Aatif Awan.
There are many well-funded global and domestic startups active in the trucking space of Pakistan. With this seed round, BridgeLinx has become the most useful capitalized freight market in the nation, stated in a report. A few domestic players that have entered Pakistan in the past 18 months have increased more money but they are developing that capital around many markets.
Bridgelinx makes a scheme to utilize the funds to “reduce its stated as a market leader by rising its product stack and extending around extra verticals, routes, and features.”
The views published in this article are those of the author and have been written through research and this article is subject to copyright laws. Any copying, reproducing, or publishing any matter subject to this article without the consent of the original author would be liable to persecution under the laws of the land.