 "Digital Freight marketplace Raaho raises Rs 12.5 cr in Pre-Series A round")
On-demand intercity trucking marketplace Raaho has raised Rs 12.5 crore in Pre-series A round of funding led by new investors IPV and Nazata founder Nitish Mittersain.
Existing investors Roots Ventures, Venkatesh Vijayraghavan (Group CEO, Board Member, Cavinkare) , Miten Sampat of CRED, among others, also participated in the round. The company plans to utilize the fresh funds to scale up nationally.
Raaho was established in 2017 to streamline the opaque and tedious processes of a fragmented trucking industry that is primarily dominated by brokers.The company connects third-party logistics agencies to fleet owners powered through its real-time matchmaking algorithm. It facilitates discovery of reliable trucks assisted by real-time tracking of the shipments and on-time deliveries to all its shippers.
“The $100 billion trucking industry in India is unorganised, largely offline and is plagued with massive deadheading and wastage (wherein a truck drives empty for a load). It is estimated that 25 per cent of total travel by a truck is empty which leads to huge loss for the trucker, loss for the economy and also a huge environmental challenge,” the company said.
The Gurgaon-based company operates in the NCR region, Chennai, Bangalore, Coimbatore, Hyderabad in the South, Kolkata, and Pune.
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