Vahak Raises $5M Funding In Pre-Series A Led By RTP Global, Others
- ByStartupStory | July 8, 2021
A Bengaluru-based marketplace, Vahak for road transport businesses and individual commercial vehicle owners, has raised $5 million in pre-Series A funding. The round was led by RTP Global with involvement from Luxor Capital and Leo Capital. The other marquee angel investors Kunal Shah, Founder and CEO, CRED; Amrish Rau, CEO, Pine Labs; Jitendra Gupta, Founder and CEO, Jupiter; Vidit Aatrey and Sanjeev Barnwal, Co-founders, Meesho; Mohd Farid, Co-founder, Sharechat; Harsimarbir Singh, Co-founder, Pristyn Care; Rohit and Kunal Bahl, Co-founders, Snapdeal; and Ravish Naresh, Co-founder and CEO, Khatabook.
Vahak is a lean startup that assists transport service operators from all over India and connects to more than half a million trucks across the country. It doesn’t own or operate its own fleet but uses an auction marketplace app which enables customers to directly connect with transporters and truck owners across India and book trucks, trailers, and loads on shared vehicles etc. Furthermore, the marketplace allows transporters to create an online presence for their business, generate leads by utilizing a pan-India network, and increase their revenue generation by enabling them to run their vehicles for most days in a month. The funding will be used to strengthen Vahak’s team and technological capabilities, and expand its customer and network base. Karan Shaha, Co-founder and CEO, Vahak, said, “At Vahak, we are leveraging technology to enable the stakeholders in the transport sector to connect with each other and bring growth. We started out with the vision of addressing the huge trust gap in the logistics space and simplifying things for transporters, agents, and vehicle owners. Going forward, we are looking to strengthen our pan-India presence.”
Yousif Al-Dujaili, Venture Partner at RTP Global, said, “Vahak is offering a service that addresses a universal human need in the transport of goods, in one of the largest and fragmented logistics markets in the world. By building an asset and working capital light auction-style marketplace, the team has displayed low operational intensity, ability to scale and business quality we look for in category defining companies.”
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