Kale Logistics has raised $30 million in a Series B funding round led by the private equity fund, Creaegis Advisors.
In June 2020, the logistics-focused SaaS firm raised $5 million in a Series A round led by Inflexor Ventures. The company also raised a small tranche in September last year at a valuation of $75 million. The company has not disclosed its valuation in the fresh round.
Kale Logistics intends to use the fresh funds to expand its business reach across the US and Europe, according to the company’s press statement.
The 13-year-old Kale Logistics provides software to the logistics and airports industry. It says its tech solutions help reduce complexities involved in the cargo logistics processing at airports, seaports and customs checkpoints.
Kale Logistics’ flagship product ‘Cargo Community Platform’ offers a single source of data to support operational flows, and facilitate the paperless exchange of trade-related data between two parties. Kale’s other offerings include several similar SaaS solutions.
Currently, it is present at over 100 airports and ports worldwide, serving over 5,500 clients across 36 countries. While Kale Logistics is to file its FY23 numbers, it reported Rs 52.63 crore in revenue in FY22, according to data intelligence platform TheKredible. The company was also profitable during the fiscal ending March 2022.
Kale Logistics’ competitors include LetsTransport, Locus and Cogoport.
LetsTransport raised $25 million led by Bertelsmann and others in July this year while Cogoport and Locus raised $50 million each in April 2022 and June 2021, respectively.
