Logistics aggregator i-Loads, a subsidiary of Cholamandalam Investment and Finance Ltd., (Chola) is seeking additional funds to expand business across the country. “At present, Chola has invested ₹8 crore and has picked up 63% stake in the company,” said Vellayan Narayanan, CEO and managing director, White Data Systems India Pvt. Ltd.
“We are looking for more funds to develop technology and establishment of a sales process. Currently, we are evaluating the process and it will be finalised in the next three to four months. The equity stake of Chola might come down with the inclusion of new investors,” Mr. Narayanan said.
i-Loads is a dedicated logistics platform of White Data Systems, which acts as an aggregator of financial solutions for truck owners. Currently, i-Loads has developed 10 hubs, has 250 load providers with 5,000 truck owners registered on its platform.
