Vahak raises $14mn in series A round led by Nexus Venture Partners

Deal takes total fundraise to $20 mn; Vahak is a free-to-use, open marketplace for shippers and transport SMEs to discover and connect with truckers to help with their transportation needs

Road transport marketplace Vahak announced on Tuesday that it has raised $14 million in a Series A round led by Nexus Venture Partners, and with participation from Foundamental, iSeed Ventures, Leo Capital, RTP Global, & Titan Capital.

Vahak has now raised a total of $20.3 million since its first round in March 2020. The funds will be used for rapid user-base expansion, building stellar tech infrastructure by incorporating AI, ML, Big Data, and providing additional value-added services.

Founded by Karan Shaha and Vikas Chandrawat in 2019, Vahak is a free-to-use, open marketplace for shippers and transport SMEs to discover and connect with truckers to help with their transportation needs.

Shaha, CEO, and Co-Founder at Vahak commented: “We are now all set to scale our technology and operations to capture 10 per cent of the Indian logistics market and go from 1.5 million users to 10 million users in the next one year. We plan on expanding rapidly, enabling millions of Indian transporters and businesses with the power of technology. We have already integrated our platform with escrow payments and plan on bringing in services like insurance, GPS, spare part purchase, etc. very soon.”
 
On leading the investment round Sameer Brij Verma, Managing Director, Nexus Venture Partners, said, “Despite posting good growth, the Indian logistics market continues to face certain challenges due to the lack of technology integration. Platforms like Vahak are now bringing about the digital transformation of this sector by providing tech-driven features and services to aid millions of truck drivers and shippers in the country."