On-demand intercity trucking marketplace Raaho has raised Rs 20 crore or $2.4 million from Inflection Point Ventures (IPV), Roots Ventures, and Blume Founders Fund as part of its extended pre-Series A round. The funding round also saw participation from angel investors such as Paytm founder Vijay Shekhar Sharma and CRED founder Kunal Shah.
The fresh capital will be used to expand Raaho’s geographical presence across the country and strengthen its data science and ML capabilities to automate freight matching.
In December 2021, the Gurugram-based startup raised $1.65 million in its pre-Series A round led by Inflection Point Ventures and Nitish Mittersain, founder, Nazara.
Founded in 2017 by Mohammad Imthiaz Yunus and Radhika Aiyanna Codanda, Raaho connects third-party logistics agencies to fleet owners through its real-time technology matchmaking algorithm. It facilitates discovery of reliable trucks assisted by real-time tracking of the shipments and guarantees on-time deliveries to all its shippers.
Raaho operates in the national capital region in the North, and in Chennai, Bangalore, Coimbatore, and Hyderabad in the South, Kolkata in the East, and Pune in the West.
Since its inception, Raaho claims to have successfully covered 20 million kilometres with over 15,000 trucks, catering to a customer base of more than 350 shippers. The firm claims to have doubled its business compared to the pre-Covid figures with profitable unit economics.
Last year, Inflection Point Ventures had launched a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage startups.