Vahak, a road transport logistics startup based in Bengaluru, has raised $14 million in funding from Nexus Venture Partners, Fundamental, iSeed Ventures, Leo Capital, RTP Global, and Titan NSE 6.03 percent Capital. Vahak has raised $20.3 million since March 2020.
The funds will be used to acquire new users, develop technology, and build value-added services such as fuel cards, insurance, and GPS, as well as purchase spare parts. According to Vahak, the company wants to create an ecosystem for truck suppliers and become their go-to digital solution.
Vahak is a free-to-use, open marketplace for shippers and transports SMEs to discover and connect with truckers, founded by Karan Shaha and Vikas Chandrawat in 2019. It claims to be assisting truck drivers in earning more than twice as much as they normally do on some of India’s major routes, primarily by increasing truck utilization.
“Through our platform, we’re enabling truck drivers to work for 25-26 days per month instead of the 12-15 days they’d normally work,” Shaha said. “Over the next year, we plan to scale our technology and operations to capture 10% of the Indian logistics market, growing from 1.5 million to 10 million users.”
“Despite its strong growth, the Indian logistics market faces challenges due to a lack of technology integration,” said Sameer Brij Verma, managing director of Nexus Venture Partners. “By providing tech-driven features and services to millions of truck drivers and shippers, platforms like Vahak are bringing the digital transformation to this sector.”
Some of the trucking marketplace’s companies include Blackbuck, ShipRocket, and Rivigo.
