• InstaFreight, a digital freight forwarding and transport management solutions provider, has raised USD 40 million in a Series B funding round led by led by Heliad and the European Investment Bank (EIB) with participation from existing investors including Shell Ventures, 683 Capital, and Rocket Internet. This brings the company’s total funds raised to USD 75.2 million.

• The company intends to utilize the funds to strengthen the supply chain by expanding available capacity and improving the efficiency of land transport in Europe.

<ul><li> Analyst QuickTake: It is noteworthy how online freight platforms—companies with small and large-scale operations alike—are gaining momentum among the investor community. Such recent smaller-scale funding rounds include Haul, Leaf Logistics, Parade, and Onward Delivery , while startups Loadsmart (raised USD 200 million), project44 (USD 420 million),   Cloud Trucks (USD 115 million), and Flock Freight (USD 215 million) as well as incumbent Uber Freight (USD 500 million) bagged dollars in mega-rounds.</ul>