Indian logistics startup Raaho raises $2.4 million in an extended pre-Series A round
On-demand digital freight service provider Raaho founded by Mohammad Imthiaz Yunus and Radhika Aiyanna Codanda has raised Rs 20 crore ($2.4 million) from Inflection Point Ventures (IPV), Roots Ventures, and Blume Founders Fund as part of its extended pre-Series A round.
The round follows a $1.65 million pre-Series A round led by Inflection Point Ventures and Nitish Mittersain founder, Nazara in December 2021.
Founded in 2017, the Gurugram-based startup connects third-party logistics agencies to fleet owners through its real-time technology matchmaking algorithm. It facilitates the discovery of reliable trucks assisted by data analytics and real-time tracking of the shipments and guarantees on-time deliveries to all its shippers.
Raaho claims to have successfully covered 20 million kilometres with over 15,000 trucks, catering to a customer base of more than 350 shippers in 10 cities throughout India including Chennai, Bangalore, Coimbatore, Hyderabad, Kolkata and Pune. The firm also claims to have doubled its business compared to the pre-Covid figures.
The fresh capital will expand Raaho’s geographical presence nationwide and strengthen its data science and ML capabilities to automate freight matching. The funding round also saw participation from angel investors such as Paytm founder Vijay Shekhar Sharma and CRED founder Kunal Shah.
