WayFr will leverage the freshly infused capital to expand its salesforce in India targeting US clients.
2am VC along with Relentless Ventures and other marquee angel investors such as Dhruvil Sanghvi (Founder/CEO, LogiNext), Pravin Gandhi (RedBus, Printo), Ambarish Jaipuria (Executive Director, Cosmo Ferrites LTD) and Kishore Ganji (Founder, Astir Ventures) have collectively invested INR 3 crore in WayFr, a futuristic SaaS platform providing end-to-end order management and financing for supply chain stakeholders like shippers and truckers. WayFr will leverage the freshly infused capital to expand its salesforce in India targeting US clients. The brand had earlier raised INR 25 lakhs from 100X.VC earlier this year in July and was part of their 05 cohort.
Commenting about this latest development, Ninad Karpe, Partner at 100X.VC, said, “The best part about being in the contemporary entrepreneurial ecosystem is that we get to review incredible ideas, potential, and approaches of innumerable young and dynamic startups. It is fairly challenging to pick the one with the most perspectives, and WayFr definitely fits this criterion. We are glad that fellow venture capitalists and angel investors saw what we saw in WayFr’s vision and future strategies and chose to show confidence in them.”
Speaking about this latest venture, Hershel Mehta, Co-Founder & Partner, 2am VC, said, “As a seed investor in WayFr, we believe their “Build in India, sell global” business model like Freshworks and Zoho will make technology access affordable for millions of shippers and truckers worldwide. The need for better technology in logistics is evident from the lakhs of containers stuck at the US ports. We are confident that the premium-quality solutions provided by WayFr can actively resolve these issues and believe that this funding will enable them to reach greater heights.”
“Since WayFr’s inception, we are striving to offer smart solutions to shippers and brokers on the back of cutting-edge technology. We are over the moon that preeminent VCs and angel investors have shown confidence in our offerings, vision, and end-goals. Leveraging this recently raised sum, we’ll continue strengthening our core competencies while simultaneously expanding our horizons. Since the pandemic has accelerated the global digital transformation process, we are confident that our carefully designed mobile application will be able to assist millions of shippers and truckers across the globe,” added Poorna, founder of WayFr.
Founded in March 2021, WayFr Technologies Private Limited (legal name) is the brainchild of Poorna Reddy and Abhiram Deshpande. It is a new-age mobile application that seamlessly allows shippers and freight brokers to create their own load posting platforms and avail low cost financing. Through these platforms, shippers and truckers can receive price quotes and booking options within their network of carriers, making the entire process personalized and hassle-free.
Source: Business World