Logistics aggregator Raaho raises Rs 20 crore in pre-series A extension round

Raaho, a Gurgaon-based provider of digital truck freight services, has secured Rs worth of financing. 20 crore from several angel investors including Paytm founder Vijay Shekhar Sharma.
The funding comes in an extension of the pre-Series A round in which the start-up of the on-demand intercity trucking marketplace will raise Rs. 12.5 million in December 2021.

In addition to Vijay Shekhar Sharma, the new round of funding was led by Inflection Point Ventures, Roots Ventures, Blume Founders Fund, Kunal Shah, K. Krishna Kumar, Venkatesh Vijayaraghavan and Aseem Khurana, among others, the company said in a statement.

“…I look forward to personally investing in Raaho’s mission to improve trucker and driver welfare. As we see more and more industries affected by digitalization, the potential to improve the efficiency of the truck market is immense and I look forward to this ride with Raaho,” said Vijay Shekhar Sharma.

Raaho provides on-demand trucking services through in-house developed applications aiming to bring operational and cost efficiencies to the Indian trucking industry. Services include real-time tracking of vehicles loaded with cargo, instant digital payments, and vehicle verification, among others.

“We are excited to continue our mission to improve the lives of truckers and drivers in India. With this fundraising, we plan to expand our reach into additional regions in India while strengthening our data science and machine learning capabilities to improve our freight matching efficiency,” said Imthiaz, co-founder and chief executive officer of Raaho.
The startup operates in more than 15 cities in India including Delhi, Chennai, Bengaluru, Coimbatore, Mumbai, Hyderabad, Kolkata and Ahmedabad. The start-up wants to use the fresh funds to further expand its network and increase efficiency in the truck sector in order to reduce empty kilometers.

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