Liquidity Events
Tata Motors to acquire 27% in logistics tech co. Freight Tiger for Rs.150-Cr
Publicly listed Tata Motors is to acquire a 26.79% stake through the purchase of 1,58,269 equity shares and 2,27,125 compulsory convertible preference shares (CCPS) from the existing shareholders of Mumbai-headquartered Freight Commerce Solutions Pvt Ltd (which operates under the brand name Freight Tiger) for INR 150 crore. The acquisition pact also includes a provision enabling Tata Motors to further invest INR 100 crore over the next two years, at the then prevailing market value. The target company had reported a turnover of INR 19.0 crore for FY23, up from INR 15.4 crore in FY22 Freight Tiger offers end-to-end logistics value chain solutions for cargo movement in the country. The platform connects shippers, carriers, logistics service providers and fleet owners to a single digital marketplace, making it easy to manage freight tracking, assignment, carrier matching, documentation, and payment processing.
From the Venture Intelligence PE-VC Deal Database: Between 2017 and 2021, Freight Tiger had raised over $20-M from Aroa Ventures, Moonstone Investments, Florintree, Volrado Ventures, Lightspeed Ventures, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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