Gurgaon-grounded digital truck freight services provider Raaho has secured funding worth Rs. 20 crore from several Angel Investors which includes Paytm author Vijay Shekhar Sharma. The backing is in extension to thePre-Series A round wherein the on-demand intercity trucking business incipiency raised Rs.12.5 crore in December 2021. In a statement, the incipiency said it’ll use the fresh finances to expand its geographical presence in the country and strengthen its data wisdom and ML capabilities to automate freight matching. innovated in 2017 by Imthiaz, Raaho is a business that connects shippers and truckers.
The incipiency, headquartered in Gurugram, claims to have presence in over 15 India metropolises including Delhi NCR, Chennai, Bengaluru, Coimbatore, Mumbai, Hyderabad, Kolkata, Pune, Ahmedabad, Kanpur, and Karnal. The incipiency offers on- demand trucking results through its suite of apps – Shipper App, Trucker App, and Motorist App. It allows users to discover closeby vindicated vehicles, believable shippers, track freight-loaded vehicles in real- time, and make digital payments. In 2021, the incipiency had raised INR 12.5 Cr in its pre-Series A round led by IPV and Nazara Technologies author Nitish Mittersain. Raaho competes with the likes of Trucknetic and Vahak, which lately acquired truck reserving app Instalogist. India’s overall intercity road logistics request is anticipated to be worth $ 299 Bn by 2025. Around 63% of the total demand is anticipated to come from on- demand intercity logistics.
The utmost of this demand is likely to be improvisational with repayment, unlike the traditional contractual model. Raaho provides on-demand trucking services through operations developed in-house with an aim to produce functional and cost edge for the Indian trucking assistance. Its services include real-time shadowing of freight-loaded vehicles, instant digital payments, vehicle verification, among others. “We’re pleased to continue our charge of making lives better for truckers and motorists of India.
With this fund rise, we plan to expand our reach to further topographies in India, while also strengthening our data wisdom and machine literacy capabilities to enhance our freight matching effectiveness,” said Imthiaz, Co-Founder and Chief Executive Officer, Raaho. The incipiency has operations across more than 15 metropolises in India including Delhi, Chennai, Bengaluru, Coimbatore, Mumbai, Hyderabad, Kolkata, Ahmedabad. With the fresh finances, the incipiency aims to expand their network further and make effectiveness in the trucking space to reduce empty long hauls, it stated.