Logistics

Matchlog raise $3 million from Blue Ashva Capital, Rainmatter Climate and Capital-A

P. Manoj | | Updated on: Jan 19, 2022

Bag of fund and a hourglass on a laptop | Photo Credit: William_Potter

The funds will be deployed to develop the tech platform further for AI and machine learning-based pairing of cargo across India

MatchLog, a digital first container logistics optimisation platform, has raised $3 million in its pre-series A round through Blue Ashva Capital, Rainmatter Climate, and Capital-A.

The funds will be deployed to develop the tech platform further for AI and machine learning-based pairing of cargo across India, grow the multi-modal share in addition to road transport and expand its footprint to more ports in India and around the world.

MatchLog helps the trade turnaround a container from an import to export cycle, thereby eliminating unnecessary empty runs to and from the container yards. MatchLog’s work results in significant fuel savings and directly contribute to the decarbonisation goals of the shipping industry. In 2021 alone, MatchLog saved over 1 million kgs of carbon emission through its efforts.

When a cargo container arrives in India, it is de-stuffed at the importer’s location and returned empty to the container yard to close the import cycle for the shipping line. These empty containers are again picked up from the yards and brought to the exporter’s location for stuffing and moved to the ports for loading on to a ship for export. There are multiple redundant legs in the trip and a lot of fuel and time are wasted carrying empty containers to the yard and back. In India alone, there are more than 17 million empty trips annually leading to more than $2 billion worth of fuel wastage and 2 million tonnes of carbon emissions.

“At MatchLog, our mission is to reduce at least 100 million tonnes of carbon through our platform in the coming five years. We will start with India and then expand to the Middle East, Africa and Southeast Asian markets in the next 12-18 months,” said Dhruv Taneja, Founder, MatchLog.

Decarbonisation

Satya Bansal, Founder, Blue Ashva Capital, said, “Decarbonisation is one of the key focus areas of the shipping industry globally. Efficient turnaround of containers and reduction of empty haulage can bring efficiency and reduce carbon emissions”.

“At Rainmatter Climate, we support technology and efforts that can help make a large dent in the climate problem we’re all staring at. Shipping and logistics is a huge part of the emissions puzzle globally, and Matchlog has taken on the problem of reducing inefficiencies and the footprint inherent in these operations today. As their reach scales and there is increased visibility intelligence around shipping and logistics, we are excited by the huge optimisation possibilities, both economic as well as ecological, this creates for supply chains,” Sameer Shisodia, CEO, Rainmatter, said.

“MatchLog has built a landmark algorithm of triangulation by leveraging their extensive domain knowledge and experience. This will bring in tremendous efficiencies in the outbound and inland logistics across India. Further, the sustainable reverse logistics mechanism built by them would also lead to major reduction in carbon emissions and support green transportation. The Indian logistics sector, especially areas such as container movement, has been traditionally held back due to the lack of adequate technology. And now, companies like MatchLog are helping overcome such challenges,” said Ankit Kedia, Founder, Capital-A.

Published on January 19, 2022
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