Inflection Point Ventures (IPV), Roots Ventures, and Blume Founders Fund led a funding round that netted INR 20 crore ($2.4 million) for the Indian trucking marketplace Raaho. Vijay Shekhar Sharma, the creator of Paytm, and Kunal Shah, the creator of CRED, were among the other notable investors who took part in the round. With the money, Raaho will be able to reach more places in India and improve its data science and machine learning so that freight matching can be done automatically. Through its Shipper App, Trucker App, and Driver App, Raaho, founded in 2017, connects shippers and truckers.
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It has on-demand trucking services that can track vehicles carrying freight, Handle electronic payments, and find verified vehicles and shippers in the area. The business seeks to organise India’s formerly unorganised trucking sector and reduce costs. Thesis assertion: With the most recent funding, Raaho’s Indian trucking marketplace will be able to reach more people nationwide and develop its data science and machine learning capabilities even further to increase the effectiveness of freight matching. Investors have faith in Raaho’s ability to address the operational and financial inefficiencies of the conventionally unorganised trucking industry, as evidenced by the startup’s most recent funding round. Shippers and truckers looking to track their freight-loaded vehicles in real-time. Make digital payments, and find verified vehicles and reliable shippers nearby can do so with Raaho’s cutting-edge on-demand trucking solutions. The Shipper App, Trucker App, and Driver App.
The thing that makes Raaho stand out is that it uses data science and machine learning. To automatically match freight, which saves money for everyone in the trucking industry. With its most recent funding, the startup wants to make the process of matching freight. More efficient by expanding to more Indian cities and improving its data science and machine learning. Trucknetic and Vahak, two companies that compete with Raaho, recently bought the truck booking app Instalogist. This shows that they are becoming more interested in the Indian trucking industry’s potential.
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India’s intercity road logistics market is expected to be worth $299 billion by 2025. With 63% of the total demand coming from on-demand intercity logistics. In contrast to the usual contract model, most of this demand is probably unplanned and paid for in advance. With the help of its most recent round of funding. Raaho is now well-positioned to take advantage of the potential of the Indian trucking market. As well as the rising demand for on-demand intercity logistics. Raaho can continue to offer creative solutions that bring operational and financial efficiencies. To the previously unorganized trucking industry by developing its data science and machine learning capabilities.
