Total amount raised
₹325 Millions
Latest funding date
03/01/2023
Location
RAAHO has successfully raised Rs 12.5 crore in funding from IPV, Roots Ventures, and others, with an additional Rs 20 crore raised for geographic and technological expansion. The company is a digital freight network that connects shippers with truckers, offering services like digital payments, real-time tracking, and vehicle verification.
Keep reading to explore the intricacies of RAAHO's fundraising journey and the investors backing this innovative platform.
What Is RAAHO?
RAAHO, founded in 2015, is a digital freight network based in Gurgaon, Haryana, India. The company operates in the freight service, logistics, marketplace, and transportation industries. It was established by Abu Fahad, Joshua Jebakumar, Md. Imthiaz, Muralidharan Chandrasekaran, and Vipul Sharma.
With an employee count ranging between 101-250, RAAHO aims to revolutionize the trucking industry through technology and data science. The company offers services like real-time tracking, digital payments, and vehicle verification, striving to reduce carbon footprints, lower freight costs, and increase trucker earnings.
How Much Funding Has RAAHO Raised?
- Seed Round
- Amount Raised: ₹125M
- Date: December 2021
- Lead Investors: Inflection Point Ventures, Nitish Mittersain
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational expansion.
- Seed Round
- Amount Raised: ₹200M
- Date: March 2023
- Lead Investors: Inflection Point Ventures
- Valuation at Round: ₹396 crore
- Motivation Behind the Round: To expand Raaho’s geographical presence and enhance its data science and machine learning capabilities for automating freight matching.
Total Amount Raised: ₹325M
Current Valuation: ₹396 crore
Key Investors
- Inflection Point Ventures (IPV)
- Details: Inflection Point Ventures is a venture capital firm that invests in early-stage startups. They have also launched a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage startups.
- Investment Focus Areas: Early-stage startups, growth-stage startups, various sectors.
- Notable Investments: Various early-stage startups (specific examples not provided).
- Roots Ventures
- Details: Roots Ventures is an investment firm focusing on early to growth-stage companies. They aim to support businesses through various stages of their growth.
- Investment Focus Areas: Early-stage companies, growth-stage companies, diverse sectors.
- Notable Investments: Various early to growth-stage companies (specific examples not provided).
- Blume Founders Fund
- Details: Blume Founders Fund is a fund managed by Blume Ventures, which supports early-stage startups. They are known for their active involvement in the startup ecosystem.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Various early-stage startups (specific examples not provided).
- Vijay Shekhar Sharma
- Details: Vijay Shekhar Sharma is the founder of Paytm, a leading digital payments company in India. He is a prominent figure in the fintech industry.
- Investment Focus Areas: Fintech, digital payments, technology.
- Notable Investments: Paytm.
- Kunal Shah
- Details: Kunal Shah is the founder of CRED, a platform for credit card users to manage multiple cards and earn rewards. He is well-known in the fintech and consumer technology sectors.
- Investment Focus Areas: Fintech, consumer technology, technology startups.
- Notable Investments: CRED.
What's Next for RAAHO?
RAAHO is poised for significant growth as it plans to expand its operations from 15 to 25 cities within the next six months, and further to 50 cities by the end of 2023-24. This expansion is backed by a recent Rs 20 crore funding round, which will also enhance their data science and machine learning capabilities to automate freight matching. The logistics sector's increasing reliance on technology presents a substantial opportunity for RAAHO to improve operational efficiency and service quality.
Future fundraising appears promising, with plans to raise an additional $20 million in the next 12 months. This financial boost will support their ambitious expansion and technological enhancement goals. However, RAAHO will need to navigate challenges such as competition from other logistics providers, maintaining service quality during rapid growth, and effectively integrating advanced technologies.
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