MatchLog Solutions raises $1.5M to enhance sustainability and carbon efficiency in container logistics
MUMBAI : MatchLog Solutions, a sustainable container logistics and supply chain optimization player, today announced the close of $1.5 million in pre-series A funding.
The round was led by Motion Ventures and July Ventures, with participation from Venture Catalysts, Blue Ashva Capital, and Capital A.
In 2022, MatchLog raised $3 million from Blue Ashva Capital, Rainmatter Climate Technologies, and Capital-A.
Shifting to a full platform model
The startup said the raised capital will enable it to shift to a full platform model, emphasizing carbon reduction as a core aspect of its offering. It will also focus on expanding its market presence, enhancing strategic partnerships, and deepening collaborations within the global shipping and port ecosystems.
Revolutionizing the logistics sector through optimization
Established in July 2019, MatchLog is revolutionizing the logistics sector by optimizing cargo, container, and trailer movements, significantly reducing operational wastage.
Utilizing advanced container-matching algorithms and a sophisticated technology-driven platform, The startup ensures seamless integration across the logistical ecosystem.
This approach enhances equipment utilization and optimizes transport routes. It aims to eliminate 10 billion km of unnecessary travel globally in the EXIM container supply chain, continuing to set new standards in the industry, the release notes.
Scaling footprint in the Indian market
With its expansion, MatchLog is set to increase its footprint and scale in India, thereby maximizing efficiency in container usage and transport logistics. The startup said the strategic growth is projected to handle around 4-5 million containers annually, substantially reducing 200,000 metric tonnes of carbon emissions each year.
Leadership comments
“Our transition from a marketplace to a platform model is aimed at scaling our operations and increasing our sustainability efforts. Since starting our operations, we’ve managed 200,000 containers and improved their efficiency by around 50%. This has reduced our carbon emissions by 40,000 metric tonnes, contributing significantly to the reduction of the container logistics carbon footprint in India,” said Dhruv Taneja, Founder and CEO of MatchLog.
“We plan to handle 2 million trips annually, aiming to cut an additional 800,000 metric tonnes of emissions and save over $100 million in freight costs,” Taneja added.
The startup’s leadership team includes Co-founder and Chief Business Officer Harsh Vardhan Gupta, CPTO Manish Singh, who has been elevated to Co-founder, and the newly joined Co-founder and Chief Strategy Officer Abhishek Baheti.
What do investors say about MatchLog?
Cliff Tan, Investment Principal, Motion Ventures, said, “Our investment reflects our strong belief in MatchLog’s platform-first approach, which enhances logistical efficiency and significantly reduces the environmental impact of global trade. We are confident that this strategic collaboration will strengthen MatchLog’s market presence and establish new benchmarks for sustainable practices in logistics.”
Speaking about this, Ravindra Krishnappa, General Partner, July Ventures, said, “We are thrilled to welcome MatchLog into our portfolio. As the lead investor in this round, we are looking forward to supporting the well-knit team in their next chapter of growth. MatchLog has proven its mettle in Container (EXIM) matchback optimization. We at July Ventures are bullish about the supply chain and logistics domain—especially on investing in a unified multi-modal digital platform. In conjunction with our other investments in the sector, we are confident that MatchLog will fill a key piece of that puzzle”.
Vansh Oberoi, Chief Investment Officer, Venture Catalysts, said, “MatchLog’s transformation and expansion exemplify our belief in their capability to redefine global logistics. Their commitment to sustainability and efficiency is setting new standards in the industry”.