Fourcee Infrastructure raises 50 Crore venture financing round

Bangalore: Fourcee Infrastructure Equipment, a Mumbai-based logistic provider, is raising 50 crore from venture capital funds Mayfield India Fund and SIDBI Venture Capital.

"Our new partnership with SIDBI Venture and MF Advisors directly supports Fourcee's longstanding singular focus on strategically expanding our nationwide footprint and growing our infrastructure," said Rajesh Lihala, CEO of Fourcee. He added, "Both the partners have a proven track record as a long-term growth partners, and share our commitment to offering our customers the finest logistic solutions the industry has to offer."

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Fourcee, which offers logistic solutions for liquid cargo, plans to utilise the fund in adding containers and tank terminals, apart from strengthening the infrastructure of the company, according to a Mayfield statement.
Following this investment, Vikram Godse, Managing Director at Mayfield, will join Fourcee's board of directors. "The logistics industry in India is going through a structural change and Fourcee struck us as a company that is bringing about a transformational change in the way liquid cargo is being transported across the country," said Godse.

Vipul Mankad, President, SIDBIVenture said, "Fourcee has evolved an innovative business model with strong value proposition to its customers. It offers cost effective and efficient transportation solution. It is uniquely positioned to address needs of fast growing logistic industry and has first mover advantage."