[Funding alert] Raaho Secures Rs 20 Cr in pre-series A extension round
Raaho, a digital freight network, has secured Rs 20 cr in the extension of its pre-series A round.
Along with other well-known angel investors like Vijay Shekhar Sharma, Kunal Shah, K Krishna Kumar, Venkatesh Vijayaraghavan, and Aseem Khurana, Inflection Point Ventures (IPV), Roots Ventures, Blume Founders Fund, and others, the round was led by these investors, as per reported by YourStory.
Read also – [Funding alert] Agro-Industry Startup QuantoAgro Raises USD 650K to Expand Sustainable Essential Oils Business
The company claims that the newly injected capital will be used to expand Raaho’s geographic reach throughout the nation and enhance its data science and machine learning (ML) capabilities to automate freight matching.
“We are delighted to continue our mission of making lives better for truckers and drivers of India. With this fundraise, we plan to expand our reach to more geographies in India, while also strengthening our data science and machine learning capabilities to enhance our freight matching efficiency,” stated Imthiaz, Co-Founder & CEO, Raaho.
Imthiaz, along with his colleagues Muralidharan C, Vipul Sharma, Abu Fahad, and Joshua Jebakumar, founded Raaho in 2017. Raaho improves operational and financial efficiency in a sector that has historically been marked by friction, inefficiency, and opacity.
Read also – [Funding alert] Sales Productivity Workspace Luru Secures $1.4M in Seed Funding
“We are thrilled to continue our investment in Raaho, as we see enormous potential for growth in the largely untapped market of digitised trucking. The Raaho team has shown exceptional dedication in building a sustainable business model with strong fundamentals, and we are excited to be a part of their journey towards success,” added Vinay Bansal, Founder & CEO, IPV.
The most dependable full-truck freight marketplace in India, RAAHO connects shippers and truckers across the country. They make use of technology and have access to real-time data to guarantee accurate tracking and prompt freight delivery by uniting shippers, carriers, and drivers on one platform, they are creating the next-generation logistics management stack.
Read also – Anthill Ventures Launches Program to Fast-Track Alco Bev Startups