20 July 2016, India :
Truckola- a technology based cargo transporation service company has raised Rs 4 Crore angle round led by Abhishek Agarwal of Fortune Interfinance (FIFL). The funds will be utilized for scaling up technology and for strengthening the service delivery capability.
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.”
The round also saw participation from other investors such as Krishnakumar Natarajan, Executive chairman of Mindtree; Al Hamra Group; Sarath Sura, Chairman of GreyCampus; Shanti Mohan, Founder of LetsVenture; Sarthak and Nihit Agarwal of Shubhalakshmi Polyesters and Suramya Gupta, Fund manager at a leading Japanese VC Firm.
“Truckola’s team has deep domain experience with excellent academic credentials. They are addressing a huge market that has severe pain points and inefficiencies. Truckola’s solution is technology driven and, hence, is asset light and highly scalable,” said Sura.
Truckola primarily focuses on full-truckloads cargo on long distance inter-state routes.
