FreightFox drives growth, surpassing Rs. 2,500 Cr. in Contract Freight Value Procurement
India, May 2, 2023: Pune-based enterprise SaaS platform for logistics procurement and management, FreightFox recently announced that it has surpassed the milestone of procuring Rs. 2500 Cr in gross contract freight value since its inception in Oct 2020. This is the latest milestone in FreightFox’s remarkable journey of growth, with revenue tripling in the second year of operations led by data, technology and customer centricity.
Its cutting-edge AI driven procurement and smart bidding algorithms offer complete visibility into freight movement, aligning favourable fleet and operator mix while reducing costs by 6-16%. FreightFox’s AI-powered platform is designed to provide an end-to-end solution for the freight lifecycle, catering to auto, auto-ancillary, and alco-beverages, FMCG etc across India.
“We are thrilled to have achieved this milestone at such an early stage in our growth,” said Nitish Rai, CEO and Co-Founder of FreightFox. “With our cutting-edge and data centric AI algorithms and end-to-end freight management solutions, we have been able to offer complete visibility into the freight movement, SKU level in-transit visibility, and reduce costs for our clients. Moving forward, our goal is to become the most trusted logistics SaaS and data platform for Indian industries and expand our reach globally”.
Commenting on their clientele, Vikas Singh, COO and Co-Founder of FreightFox, said, “We are excited to continue driving innovation in the logistics industry through data and emerging technologies and provide our clients with the best possible experience. Our success will be measured by the impact we create for our customers and the trust they place in us.”
FreightFox’s success is due to its ability to harness the power of technology to simplify the freight management process. FreightFox, also conducts digital maturity assessment for their new clients to determine their exact freight needs on digitalising logistics and then assist clients with the adoption of solutions for those exact needs. With its AI-powered platform, the company has quickly established itself as a leader in the industry and is poised for even greater success in the future. FreightFox has been an integral part of India’s logistics capability augmentation journey. In 2022, FreightFox was adjudged the winner of National Logistics Hackathon organized by NITI Aayog among 543 companies which participated. FreightFox was also the integral part of National Logistics Policy Launch focused on making India competitive at the global stage.