FR8 : A digital solution of transport

Updated: June 25

Introduction to FR8

Established in Chennai, India in 2016 by Vasanth Immanuel and Jayendran Panneerselvam, FR8 is a technology-driven logistics platform. Previously working together at Store N Move, a logistics and supply chain business where Immanuel was CEO and Panneerselvam was CTO. Olog Logistics Pvt. Ltd. runs FR8. Aiming to computerize and simplify long-haul trucking activities all throughout India, the corporation debuted its platform in June 2016.

FR8 : Truck Brokerage

What They Do and Why It Matters

For long-haul transportation demands, FR8 links shippers with truck operators on an asset-light, technologically enabled freight aggregation platform. Enhancing reliability and lowering logistical industry inefficiencies, the platform offers clear pricing, real-time GPS tracking, and quick order matching. FR8 intends to enhance operating efficiency and service quality for customers, including major companies like Asian Paints, Britannia, and Pepperfry, by digitalizing the normally split trucking sector.

Financial Snapshot

Early Development: FR8 had onboarded over 2,500 trucks from 400 suppliers within months of its debut, handling about 1,000 orders totaling ₹2.5 crore each month. FR8 got ₹6.5 crore (about $971K) in funding from Omnivore Partners in October 2016. Later in November 2017, collected debt financing of ₹10 crore (~$1.5 million) from IFMR Capital to cover working capital needs. Financial Performance: FR8 Integrated Logistics Private Limited's revenue rose 28.11% in fiscal year 2022, with a substantial 1539.61% increase in profit over the preceding year, demonstrating solid financial development. Company Check

Institutional Support and Future Prospects

Recognizing the potential of FR8 to change long-haul trucking and help the agribusiness ecosystem through optimized logistics, Omnivore Partners, an agritech-focused venture capital company, invested in FR8.

• Following its first investment, FR8 set out to grow its operations from seven to 17 cities in a year by prioritizing scaling its platform and funding technology and talent acquisition.

• Emphasizing its asset-light strategy and technology-driven approach to solve inefficiencies in India's logistics scene, FR8 positions itself as a capital-efficient logistics solution.

Efficient Supply Chain

FR8, a platform connecting businesses with logistics providers, concludes that efficient and reliable supply chain management is crucial for businesses seeking to excel in the logistics sector. This requires a solid understanding of freight services, including choosing the right mode of transport, optimizing warehousing, and adopting best practices. By staying updated with industry trends and exploring new opportunities, businesses can unlock their full potential in the dynamic world of logistics. 

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