FreightFox surpasses ₹2,500 cr in contract freight value procurement
Its AI driven procurement and smart bidding algorithms offer complete visibility, aligning favourable fleet and operator mix while reducing costs by 6-16%.
Nitish Rai, CEO and co-founder of FreightFox, while giving his presentation during Global Pharma Logistics Summit 2022 in October 2022 in Mumbai, organised by Indian Transport & Logistics News.
Pune-based enterprise SaaS platform for logistics procurement and management, FreightFox recently announced that it has surpassed the milestone of procuring ₹2500 crore in gross contract freight value since its inception in Oct 2020.
“This is the latest milestone in FreightFox's journey of growth, with revenue tripling in the second year of operations led by data, technology and customer centricity,” reads the release.
Its cutting-edge AI-driven procurement and smart bidding algorithms offer complete visibility into freight movement, aligning favourable fleet and operator mix while reducing costs by 6-16 percent. FreightFox's AI-powered platform is designed to provide an end-to-end solution for the freight lifecycle, catering to auto, auto-ancillary, and alco-beverages, FMCG etc across India.
Nitish Rai, CEO and Co-Founder of FreightFox, said, "With our cutting-edge and data-centric AI algorithms and end-to-end freight management solutions, we have been able to offer complete visibility into the freight movement, SKU level in-transit visibility, and reduce costs for our clients. Moving forward, our goal is to become the most trusted logistics SaaS and data platform for Indian industries and expand our reach globally".
Vikas Singh, COO and co-founder of FreightFox, said, "We are excited to continue driving innovation in the logistics industry through data and emerging technologies and provide our clients with the best possible experience. Our success will be measured by the impact we create for our customers and the trust they place in us."
The release also reads, “FreightFox's success is due to its ability to harness the power of technology to simplify the freight management process.”
FreightFox, also conducts digital maturity assessment for their new clients to determine their exact freight needs on digitalising logistics and then assist clients with the adoption of solutions for those exact needs. In 2022, FreightFox was adjudged the winner of the National Logistics Hackathon organized by NITI Aayog among 543 companies which participated.