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Carrier raises $14 million in Series A funding round led by Nexus Venture Partners

Carrier raises $14 million in Series A funding round led by Nexus Venture Partners

Logistics tech startup Carrier has raised $14 million in a Series A funding round led by Nexus Venture Partners.

The round saw participation from Foundational, Iced Ventures, Leo Capital, RTP Global and Titan Capital. The carrier has raised a total of $20.3 million since its first round in March 2020.

The funding will be used for expanding the user-base, building technical infrastructure involving AI, ML, Big Data and providing additional value-added services. Vahak aims to create an all-encompassing ecosystem for truck suppliers and be a digital solution for them.

Carrier is a free-to-use, open marketplace for shippers and transport SMEs to find and connect with truckers to help them with their transportation needs.

Karan Shah, the carrier’s chief executive officer (CEO) and co-founder, said, “We are now poised to scale up our technology and operations to capture 10 percent of the Indian logistics market and reach 10 million from 1.5 million users. went. We plan to rapidly expand users over the next one year, enabling millions of Indian transporters and businesses with the power of technology.”

He added that the carrier has integrated the platform with plans to bring in services like escrow payments and insurance, GPS, spare part purchase etc very soon.

To support its vision of improving the truck supplier ecosystem, Vahak has collaborated with MediBuddy to provide free online doctor consultations to over 6 lakh truckers. It is also set to bring a wide range of VAS (Value Added Services) like fuel cards, insurance, GPS, truck tires and spare parts, and more.

Along with tertiary services, the carrier has also launched an in-app feature, Carrier Payments, to make transactions fast and secure. Truck drivers can request for advance/balance payment and the consignor can do the payment with a single click. Carrier payments are secure and fast and help reduce major payment issues.

Published on

22 June 2022

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Carrier raises $14 million in Series A funding round led by Nexus Venture Partners

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