Friday, September 24, 2021

Bridgelinx, A Pakistani Startup, Has Raised $10 Million

BridgeLinx, a digital freight marketplace based in Lahore, revealed today that it has secured $10 million in the country’s largest seed round. Harry Stebbings’ 20 VC, Josh Buckley’s Buckley Ventures, and Indus Valley Capital led the deal, which is also one of the region’s largest seed rounds.

Wavemaker Partners, Quiet Capital, TrueSight Ventures, Soma Capital, Flexport, Untitled, and some of Pakistan’s leading business groupings, including Maple Leaf Capital, participated in the sale, which was over twice oversubscribed, according to the startup. Several angel investors participated in the round, including the creators of Convoy (a US-based freight network) and Bazaar (a Pakistani B2B marketplace).

BridgeLinx is an online marketplace that connects businesses with carriers (truckers, owner-operators, transporters, and private fleets) to assist them transfer freight. It was founded in late 2020 by Muhammad Saad, Ahsan Tanveer, Abbas Hassan, and Salman Gul. The firm, which launched nine months ago, claims to have onboarded thousands of carriers who are moving thousands of cargo per week for some of Pakistan’s top shippers.

Starting with matching and ending with payments, the platform provides an end-to-end solution for load execution. Businesses can use the BridgeLinx smartphone app to book a variety of vehicles to transport their cargo. BridgeLinx claims on its website that its scheduling and routing technology links them with the most reliable, cost-effective, and efficient transport partner, and that clients can trace their shipments in real time in the app. All shipment-related documentation are also accessible through the site.

In Pakistan’s trucking industry, there are a number of well-funded international and local startups. BridgeLinx stated in a statement that with this seed round, it has become the best-capitalized freight marketplace in the country. Some regional players that have entered Pakistan in the last eighteen months have raised more money, but they’re putting it to work in a variety of areas.

The money will be used to “consolidate its position as a market leader by broadening its product stack and growing across more verticals, segments, and lanes,” according to BridgeLinx.

Related Articles

The Samsung Galaxy S22 been revealed and claims to outperform rival manufacturers in terms of photography performance

Samsung is still working hard behind the scenes on the next big thing. In this situation, we may have some new information about one...

MG Pakistan warns that it would sue anyone who spreads false information or conducts fake campaign against its brand

In an official statement, MG Pakistan stated that specific individuals or incorporated firms are actively engaged in its defamation; however, no names were provided....

World’s first battery-electric freight train is significantly more powerful than 100 Tesla automobiles

The world's first battery-electric freight train was introduced earlier this month at an event in Pittsburgh, Pa., as part of a renewed effort by...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

The Samsung Galaxy S22 been revealed and claims to outperform rival manufacturers in terms of photography performance

Samsung is still working hard behind the scenes on the next big thing. In this situation, we may have some new information about one...

MG Pakistan warns that it would sue anyone who spreads false information or conducts fake campaign against its brand

In an official statement, MG Pakistan stated that specific individuals or incorporated firms are actively engaged in its defamation; however, no names were provided....

World’s first battery-electric freight train is significantly more powerful than 100 Tesla automobiles

The world's first battery-electric freight train was introduced earlier this month at an event in Pittsburgh, Pa., as part of a renewed effort by...

KP government would review the papers of a girl who scored 1100/1100 on her Matric exam

After some students received full scores, the Education Department in Khyber Pakhtunkhwa (KP) has launched an investigation into the marking of matriculation and intermediate...

British PM compliments PM Imran Khan’s 10 Billion Trees Project, urging the world to follow Imran Khan’s lead on climate change

In yet another nod to Prime Minister Imran Khan's efforts to mitigate the effects of climate change, UK Prime Minister Boris Johnson mentioned Pakistan's...