Logistics based start-up firm Truckola has raised as much as 4 Crores INR i.e. $595,000 from an Angel funding round here in Bengaluru. The round was taken up by Fortune Interfinance in a deal-making platform LetsVenture.
The participants in its first round-up in angel funding included investors like Founder of LetsVenture, Shanti Mohan; Sarthak and Nihit Agarwal of Shubhalakshmi Polyesters; Co-Founder and Executive Chairman of Mindtree, Sarath Sura;Al Hamra Group; Executive Chairman of Mindtree, Krishnakumar Natarajan; Fund Manager at a Japanese VC firm, among many others.
The raised funds sought toincrease the technology along with strengthening of service delivery capability. The technology would help in optimising the transport eco-system thus making the business model operationally scalable. Over the top prime concern of the firm is to create visibility in the value chain of demand-supply alignment in a better manner and also by reducing the stoppages of the vehicles.
Truckola logistics firm was founded in 2015 by Raghav Himatsingka and Keshav Himatsingka with its headquarters in Mumbai. Its third co-founder Vipul Garg comes as Graduate from IIT (Delhi). It focuses towards full truck loading cargos which travel long distances on inter-State routes. It has a firm belief that the transportation sector in very harsh, painful, unorganised and inefficient. The largely growing sector at full pace seek to become 300 billion USD by 2020.
The billion dollar industry need to be in track as it lacks in major areas such as being highly unorganised, lack of structured data, lot of disorder in supply chain, unmanageable data and tools and so on. The enterprise tends to solve all the problems with the help of data and predictive tools by lowering the costs and making better utilisation of vehicle availability. The technology driven lightly asseted logisticsw start-up ought to make it highly uprooted.