Truckola a Mumbai based logistics startup raised Rs 4 crore in angel funding led by Abhishek Agarwal of FIFL- Fortune Interfinance. The funds will be used for technology enhancement and for improvising the service delivery capability.
Other investors participated in this Angel round include, Sarath Sura- Chairman of GreyCampus, Krishnakumar Natarajan- Executive Chairman of Mindtree, Shanti Mohan- Founder of LetsVenture, Suramya Gupta- Fund manager at Japanese VC firm and Nihit & Sarthak Agarwal of Shubhalakshmi Polyesters.
Truckbola a technology focused cargo transport company was founded in 2015 by Keshav Himatsingka and Raghav Himatsingka. Keshav a graduate from Duke University where as Raghav an alumni to Stanford University. It focuses on full truckloads cargo on long distance inter-state routes.
Raghav Himatsingka, cofounder, Truckola said
“We are using technology to optimise the transport ecosystem and make the business model operationally scalable. We do this primarily by creating visibility in the value chain for better supply-demand alignment, and by reducing the idling time of vehicles.”
It believes that transport sector is highly unorganized because of lack of structured data, leading to disorder in the demand and supply chain across the country. It further aims to solve the problem with predictive tools and data, lowering the cost and making a better utilization of the vehicles.
Some of the major funded startups in same segment include Shadowfax based in Gurgaon which raised around Rs 62 crore altogether, and is operational in Delhi-NCR, Bengaluru and Mumbai. Opinio a tech-enabled hyperlocal logistics startup backed by investors including Sands Capital and Accel Partners, so far it raised around $8,300,000. Porter an intra-city aggregator for mini trucks raised $6,500,000. Rivigo an intercity transportation startup raised $30 million from SAIF partners.