Lobb is a logistics startup that raised $2.9 million in a round from its investors. This funding round saw  the participation of 3one4 capital and other entrepreneurs including Rajesh Voddiraju, Divyasree  Developers chairman P Shyama Raju, Ensoftek’s CEO Ramana Reddy, Intel Corp’s Giri Pasumamula, and  Voya India CEO Sharada Nandakumar.  

According to the company filing, the startup will use these fresh proceeds to scale its operations,  enhance its technologies, optimize its supply chain, and expand its network in more than 50  geographies for high density routes. The startup focuses on scaling up and expanding its network  across other geographical regions. The company is focused on achieving a net revenue of Rs 500 crore  in the next two years. Lobb currently operates in more than 22 cities across the country. The company  announced that the Fleet owners using Lobb increased their revenue in the firm by 30 percent. This  logistic company will also focus on strengthening its logistic capabilities, and meet production gaps  while meeting the changing trends. 

Lobb offers a platform with reliable, growth, efficient, and consistent transportation services. The firm  leverages advanced technologies to offer automated load matching, real-time transaction settlements,  competitive pricing, and a verified trucker network. The company aims to offer transportation services  across India more efficient, reliable, and easier for everyone. This logistic startup plans to enhance its  logistic solutions and services to meet the market demand by offering supply chains and other services  to small businesses in the industrial sectors. The company plans to use the majority of this investment  to enhance its platform, expand its network, and advance its technology.  

The CEO and co-founder of Lobb, Venu Kondur mentioned that this investment would help the startup  to carry out market expansion and accelerate its technological growth. The startup aims to scale its  business and expand its network across India using this investment. The company is looking to grow  its team and strengthen its technology with machine learning and generative AI. The partner of 3one4  Capital, Anurag Ramdasan mentioned that the firm uses a platform that is integrated with insurance  for truckers, GPS navigation, and oil majors for fuel.  

Conclusion: 

Lobb is a logistics service provider that secured 2.9 million USD in its new funding round. The round  saw the participation of the firm’s new and existing investors including 3one4 Capital, Ensoftek, Intel  Corporation, and Voya India. This logistic startup intends to use these fresh proceeds to enhance its  services by using more advanced technologies, scaling up its operations, optimizing its supply chain,  and expanding its network in more than 50 geographies for higher-density routes. The startup covers  Bengaluru and nearby cities and is planning to expand its network with fresh capital. The firm works  with more than 1200 logistic companies, over 5000 fleet owners, and 30,000 trucks. Lobb currently  operates in over 22 cities across the country. Lobb plans to achieve the Rs 500 crore revenue in the  next 2 years. This logistic startup plans to enhance its logistic solutions and services to meet the market  demand.