Tata Motors has signed agreements with Freight Commerce Solutions (Freight Tiger) for the acquisition of 26.79% stake in Freight Tiger for a consideration of Rs 150 crore.
This 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 digitise and streamline logistics interactions such as freight tracking, assignment, carrier matching, documentation, and payment processing.
The platform is claimed to facilitate over 10 million trips on annualised basis and has been 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. The strategic investment will accelerate the company’s initiatives in driving effectiveness and efficiency in the truck and freight ecosystem. Together, these innovative solutions (Fleet Edge & Freight Tiger) aim to forge a comprehensive end-to-end digital ecosystem for the entire logistics value chain, covering both the truck and the trip ecosystem thereby bringing significant benefits to shippers, brokers and transporters who keep India moving.
