FreightFox raises Rs 5 crore in funding led by HighLeaf

FreightFox, a Pune-based logistics technology startup, has raised Rs 5 crore in a strategic funding round led by HighLeaf. The round also included participation from Vijender Yadav, founder of Accops Systems, Puru Gupta, founder and operating partner at Proteus Partners, and existing investor Aeravti Ventures. FreightFox said the fresh capital will be used to expand its enterprise sales and channel partnerships in India as the startup also looks to enter international markets. Founded in 2020, FreightFox is led by CEO and co-founder Nitish Rai. It operates a Transportation Management System, or TMS, and control tower platform designed to help enterprises manage freight operations. The platform brings together freight procurement, execution, shipment tracking, invoice settlement and sustainability reporting. Its control tower also provides visibility across inbound, outbound and other freight movements. FreightFox said it has tracked and managed more than six million trips and enabled over $2 billion in freight procurement, while more than $1 billion in freight procure-to-pay transactions have been processed through its platform. The startup works with businesses including AB InBev, Bridgestone, Coca-Cola, PepsiCo, Hero MotoCorp and CEAT. Rai said the investment reflected changes taking place in the logistics industry as companies seek to connect freight data with operational decision-making. “There is increasing recognition that freight operations need more structured systems,” he said, adding that businesses were looking to reduce manual processes and improve visibility. FreightFox previously raised $600,000 in seed funding led by Aeravti Ventures in 2023. At the time, the startup said the investment will be used to develop its platform and expand into new markets.