Vahak raises seed round from Leo Capital angels

Vahak, an Online road transport marketplace in its recent announcement on Tuesday, June 2, that it has raised a capital which is still undisclosed in a seed funding round led by venture capital fund Leo Capital other than that there were many other  Angel investors, which included  Founder of Yulu Bikes, Amit Gupta; Founder of Tracxn, Abhishek Goyal; Founder of LivSpace, Ramakant Sharma; Founder of OkCredit Harsh Pokhrana; and angel investor and former partner at Unicorn India Ventures, Archana Priyadarshini also participated in the round. The Bengaluru-based startup, operated by Epictus Solutions India Pvt. Ltd aims to use the capital to strengthen its team functionalities and technological capabilities. It also intends to target a  large customer base by the next year.

Karan Shaha, CEO at Vahak, said that they believe that there are abundant growth opportunities especially for small and medium scale transport businesses when online brands and huge networks work together.
The investors on this added that before investing in a start-up, they were primarily looking out for tech leverage and the ability for significant scale-up. They believe that the founders of Vahak   have deep-rooted experience in the field of logistics at the ground level which enables them to understand and speed up the technology adoption for these businesses.” Vahak was launched by Shaha and Vikas Chandrawat, who is an alumnus of IIT Kanpur, in July 2017. In the past, Shaha and Chandrawat were associated with Simplified Logistics Solutions Pvt. Ltd. Vahak mainly helps logistic companies to connect with truck owners, brokers, and other transporters across India through its online platform. Vahak has done a commendable job and is said to have built a network of 40,000 transporters with a reach in over 3,000 plus locations pan India. Growing at over 200% quarterly, it caters to over 500 daily active loads. It is spread across major transport hubs including cities like New Delhi, Mumbai, Ahmedabad, Pune, Kolkata, Chennai, Visakhapatnam, Raipur, Bhilai, Bhopal, Lucknow, Bengaluru, Kochi, Chandigarh, Vapi, Surat, Nagpur, Patna, and Indore.

Karan, Co-founder, and CEO of Vahak said, “The only blocking stone in the  Indian road transport is the trust gap which limits the business potential and expansion for transporters, agents and lorry owners. This is where Vahak comes into the scenario and leverage technology and build the stakeholders connect with each other smoothly .”

Amit Gupta, also the former Founder of InMobi, said: that the logistics and transport sector has operated in a very unorganized manner over the years, with the entry of Vahak into the markets these dots are getting connected across the various players in the logistics chain. The government’s recent initiative to promote Local Vahak has set an example of how homegrown startups can get ground-level solutions ..”