Goods worth billions are transported across India’s roads every day and driving this supply chain is India’s largest open road transport marketplace Vahak. The company today announced its $14m Series A fundraise as it scales operations with a sharp focus on supplier well-being and sustainability. Nexus Venture Partners led the funding round with participation from Foundamental, iSeed Ventures, Leo Capital, RTP Global, & Titan Capital. Vahak has now raised a total of $20.3m since its first round in March 2020.
The funding will be used for rapid user-base expansion, building a stellar tech infrastructure by incorporating AI, ML, Big Data, and providing additional value-added services. Vahak aims to create an all-encompassing ecosystem for truck suppliers and become the go-to digital solution for them.
Founded by Karan Shaha and Vikas Chandrawat in 2019, Vahak is a free-to-use, open marketplace for shippers and transport SMEs to discover and connect with truckers to help with their transportation needs. The start-up has been quietly disrupting the antiquated logistics approach in India and helping truck suppliers make a name for themselves. On some major routes across India, Vahak is helping truck drivers earn more than twice what they usually earn, by increasing truck utilization.
Karan Shaha, CEO, and Co-Founder at Vahak commented: “Tech adoption is increasing rapidly in the Indian logistics industry and digitally-driven logistics services are the need of the hour in the current post-pandemic India. Through our platform, we are enabling truck drivers to operate for 25-26 days a month, as compared to the meagre 12-15 days they would operate otherwise. We are now all set to scale our technology and operations to capture 10% of the Indian logistics market and go from 1.5 mn users to 10 mn users in the next one year. We plan on expanding rapidly, enabling millions of Indian transporters and businesses with the power of technology. We have already integrated our platform with escrow payments and plan on bringing in services like insurance, GPS, spare part purchase, etc. very soon.”
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