India is an almost $250Bn logistics market, as per FY 2021 estimates. And contemplating the nation’s formidable growth targets and an rising earnings class, this trade is anticipated to be price $380Bn by 2025. And whereas these are massive financial numbers, truck drivers — who’re the lifeline of this progress — are sometimes sidelined. Vahak, a logistics market aimed toward making life higher for truck drivers, has recognized the necessity (and a attainable enterprise alternative), and simply discovered some marquee backers for its mannequin.
Vahak has raised a brand new $14Mn spherical from Nexus Enterprise Companions, Elementary, iSeed Ventures, Leo Capital, RTP World, & Titan Capital. Since March 2020, Vahak has raised $20.3 million.
Based in 2020 by IIT mechanical engineering batchmates Karan Shaha and Vikas Chandrawat, the platform helps SMEs and small companies join immediately with truckers. Opposite to different platforms, Vahak facilitates direct connections with truck drivers reasonably than bringing orders to transporters. This not solely helps truck drivers acquire higher earnings alternatives, but additionally will get them entry to companies comparable to insurance coverage and well being advantages.
“Via our platform, we’re enabling truck drivers to function for 25-26 days a month in contrast with 12-15 days they’d function in any other case,” mentioned Shaha. “We’re set to scale our expertise and operations to seize 10% of the Indian logistics market, and go from 1.5 million customers to 10 million customers over the following 12 months.”
Vahak’s app additionally gives drivers physician consultations by means of telehealth firm Medibuddy, well being and transit data and gasoline playing cards that can be utilized to purchase gasoline at discounted charges.
Though at present in pre-revenue stage, the corporate’s aim is to scale its operations to 10% of India’s logistics markets and develop from 1.5 million customers at present to 10 million inside a 12 months.