Vahak raises 5 mn USD in pre-Series A funding

Led by RTP Global with participation from Luxor Capital and Leo Capital, the funding round had participation from other marquee angel investors as well, the Bangalore-based startup said. India has a humongous need for freight and special goods transportation for different types of cargos. However, millions of trucks remain idle at any given point of time due to operational inefficiencies caused by lack of technology, Vahak said in the release.

This leads to huge monetary losses for truckers and the logistics sector on a daily basis, it said, adding Vahak is harnessing cutting-edge technologies to weed out such inefficiencies and help transporters optimise their vehicle utilisation through online load booking.

A lean start-up that aggregates transport service operators from across the country, it claims having over 5 lakh trucks across the country under the online platform.

The platform already claims managing over 10,000 daily active loads with its network covering major transport and logistics hubs like Mumbai, Chennai and Kochi. The start-up is aiming at reaching $1 billion annual Gross Transaction Value (GTV) in the next 12 months.