Tata Motors to acquire 27% stake in logistics startup Freight Tiger for Rs 150 crore

economictimes.indiatimes.com:

Tata Motors said it will acquire a 27% stake in digital logistics solutions platform Freight Tiger for Rs 150 crore, with an additional investment of Rs 100 crore over the next two years, according to a company filing on the BSE on Thursday.

Freight Tiger is a digital platform that provides end-to-end logistics value chain solutions for cargo movement across India. It connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace, along with other Software as a Service (SaaS) solutions to streamline logistics interactions such as freight tracking, assignment, carrier matching, documentation, and payment processing.

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This comes as the Tata Group company looks to accelerate its presence in the truck and freight ecosystem. “We are excited to announce our partnership with Freight Tiger. Their vision is aligned with ours, as we strive to improve the efficiency and sustainability of road logistics,” Girish Wagh, executive director, Tata Motors, said in a release.

Swapnil Shah, founder and CEO of Freight Tiger, said in the statement that with Tata Motors' backing, the company will lead India's efforts “in reducing logistics costs to under 10% of GDP from over 14%.”