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Founded by Karan Shah and Vikas Chandravat in 2019, Vahak is developing a logistics platform designed to connect with truck owners, logistics and carriers across India. The company's app lists transit vehicles, such as trucks, trucks, trailers and containers, according to their rating and makes them easier to book.
History
2022: Raising $13 million of investments, including from the Leonid Boguslavsky Fund
On June 20, 2022, Vahak announced a $13 million investment. The A-series financing round was attended by Nexus Ventures, Leo Capital, as well as Leonid Boguslavsky's fund RTP Global. Taking into account this transaction, the total amount of funds received by the startup from investors reached $20.3 million.
The attracted investments will be used to quickly expand the user base, create a technological infrastructure through the introduction of artificial intelligence, machine learning, processing a large amount of data and providing additional value-added services, the company said.
 | We are now ready to scale our technology and operations to occupy the 10th part of the Indian logistics market and go from the current 1.5 million users to 10 million users during 2023. We plan to expand rapidly, giving millions of Indian carriers and businesses the opportunity to take advantage of the service, "noted Vahak CEO and Co-Founder Karan Shah. |  |
Shaha added that Vahak has already integrated its platform with exrow payments and plans to implement services such as insurance, GPS, parts purchases.
| | Noting that technology adoption in the Indian logistics industry is skyrocketing and the need for digital-based logistics services is even greater in post-pandemic India, Shah said, Through our platform, we are giving truck drivers the opportunity to work 25-26 days a month, compared to the meager 12-15 days they would otherwise work. | |
| | Despite good growth, the Indian logistics market continues to face certain challenges due to the lack of technological integration. Platforms like Vahak are driving the sector's digital transformation by providing technology-based features and services to help millions of truck drivers and shippers in the country, Nexus Venture Partners managing director Samir Bridge Verma said.[1] | |
Notes
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