Chennai: Raaho, an on-demand intercity trucking marketplace, has announced raising Rs 12.5 crore in pre-series A round of funding led by new investors IPV , Nitish Mittersain (founder – Nazara) and participated by its existing investors Roots Ventures, Venkatesh Vijayraghavan (group CEO, board member, Cavinkare), Miten Sampat from CRED and others.
According to a statement, the asset-light, capital-efficient company plans to utilise the fresh funds to grow nationally and make the whole product ‘100% On-Demand’.
Raaho was established in 2017 to streamline the opaque and tedious processes of a fragmented trucking industry, which is primarily dominated by brokers, it added.