Tata Motors has acquired 26.79 per cent stake in Freight Commerce Solutions Private Ltd (Freight Tiger) for a consideration of Rs 150 crore.
The securities subscription agreement (SSA) also includes a provision enabling Tata Motors to further invest Rs 100 crore over the next two years, at the then prevailing market value. ‘Freight Tiger’ is a digital platform that provides 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 find, book and manage freight whilst offering a variety of Software as a Service (SaaS) solutions to digitize and streamline logistics interactions such as freight tracking, assignment, carrier matching, documentation, and payment processing, TML said.
The platform facilitates more than 10 million trips on annualised basis and has been successfully integrating and ironing out inefficiencies in cargo movements over the last 7 years. Tata Motors has already introduced its connected vehicle platform ‘Fleet Edge’ for aiding fleet operations management.
