WayFr will leverage the money to expand its salesforce in India targeting US clients. The brand had raised Rs 25 lakh from 100X.VC earlier this year 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 companies. It is challenging to pick the one with the most perspectives, and WayFr fits this criterion.”
“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,” said Hershel Mehta, Co-Founder & Partner, 2am VC, in a statement.
Founded in March 2021, WayFr Technologies is the brainchild of Poorna Reddy and Abhiram Deshpande. It is a new-age mobile application that 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.
“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 mobile application will be able to assist shippers and truckers across the globe,” added Poorna Reddy, founder of WayFr, in a statement.