California-based supply chain logistics startup Hwy Haul has announced that it has raised $10 million in a Series A round. Eileses Capital spearheaded the round while BluePointe Ventures co-led the round. The series A funding round also had a strong imprint of Indian investors with Freshwork’s CEO & Founder Girish Mathrubootham, Palo Alto Networks founder Rajiv Batra & ex-CEO of Nutanix Dheeraj Pandey also participating in the round.
Hwy Haul said that it will use the fresh fund infusion for carrying forwarding its mission to redefine the way fresh produce is shipped and delivered. Founded in 2018, Hwy Haul claims to be the next-generation digital freight platform that primarily focuses on shipping grocery products, cutting out the middlemen and directly connects farmers, distributors and other concerned parties to its expansive network.
The company claims that their platform ensures that the produce is delivered efficiently, eliminating wastage, reducing freight’s carbon footprint and creating sustainable future growth for all stakeholders.
Syed Aman, CEO, and co-founder says, “produce spends half its life in the supply chain, and more than $15 billion is wasted or rejected in transit every year. Existing produce shipping methods are largely manual, with poor visibility and communication within the supply chain. These inefficiencies lead to a further problem of empty miles and their associated carbon emissions.”
Commenting on the series A founding, Kishore Bopardikar, Founder and Partner at Eileses Capital, said “We are excited to lead this investment round for Hwy Haul and support their mission to digitize every step in the value chain and create a seamless experience for the food and fresh produce fraternity.”
Syed Aman had previously served as the Director of Supply Chain at Walmart and also hails from the prestigious IIT Kanpur. The other two co-founders Sharan Grewal, CTO, held various engineering leadership roles at WalmartLabs while Zahed Khan, COO, boast a 30-year career in produce and logistics.
According to Crunchbase, Hwy Haul has till date raised $5.6Mn primarily through a seed funding round.