Vahak, an Indian marketplace for road transport businesses and individual commercial vehicle owners, raised $5.3m in pre-Series A funding.
The round was led by RTP Global with participation from Luxor Capital and Leo Capital with participation from Kunal Shah, Founder and CEO, Cred; Jitendra Gupta, Founder and CEO, Jupiter; Vidit Aatrey and Sanjeev Barnwal, Co-Founders, Meesho; Mohd Farid, Co-Founder, Sharechat; Amrish Rau, CEO, Pine Labs; Harsimarbir Singh, Co-Founder, Pristyn Care; Rohit and Kunal Bahl, Co-Founders, Snapdeal; and Ravish Naresh, Co-Founder and CEO, Khatabook.
The company intends to use the funds to strengthen the team and technological capabilities, as well as to expand its customer and network base.
Led by Mr Karan Shaha, CEO, and Mr Karan Chandrawat, CPO, Vahak provides a marketplace for road transport businesses and individual commercial vehicle owners (trucks, trailers, containers, hyva, LCVs). Its online network aggregates transport service operators from all over India, connecting more than half a million trucks across the country. Vahak uses an auction marketplace app that allows customers to directly connect with transporters and truck owners across India to book trucks, trailers, and loads on shared vehicles. The marketplace also helps transporters to create an online brand for their business, generate leads by leveraging a pan-India network, and increase revenue by enabling them to run their vehicles for more days every month.
The platform already manages more than 10,000 daily active loads and the network covers major transport and logistics hubs across the country.
FinSMEs
08/07/2021