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Yebhi co-founder’s logistics startup Truxapp raises pre-Series A funding

By Disha Sharma

  • 08 Aug 2017
Yebhi co-founder’s logistics startup Truxapp raises pre-Series A funding

Delhi-based logistics startup Truxapp, which was floated by Yebhi.com co-founder Manmohan Agarwal, has raised $3.1 million (around Rs 19.7 crore) in a pre-Series A funding round from a clutch of investors.

The investors who participated in the round include family of Videocon Industries' chairman Venugopal Dhoot; Ajay Bhatia, managing director of UAE-based Bhatia Brothers LLC; Tarun Khandelwal, managing director of Add-Advisory Partners; family of Ganpat Singhvi, group advisor and director of UAE-based Al Nasser Holdings LLC; Mandhian family which has investments in real estate, capital markets and tech startups; and others, the startup said in a statement.

The platform, which is operated by Trux App Pvt. Ltd, was founded by Manmohan Agarwal, who earlier co-founded ecommerce portal Yebhi.com. Other co-founders of Truxapp include Dhruv Khandelwal, Sharad Pratap Singh and Naseer Ahmed.

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“Truxapp has 226,000 trucks on its platform with a presence in 150 cities. This demonstrates the quality of the management team led by Agarwal,” said Khandelwal.

Truxapp is a mobile app based logistic service which connects truck owners to businesses.

The firm, which was launched in 2015, claims to have expanded to more than 21 states.

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“The idea of creating a single source for logistics services across the country came after experiencing the fragmented logistics market during my Yebhi.com days. Since then, it has been a journey of learning and hard work to create a platform like Truxap,” said Agarwal.

In the logistics segment, Kartha Techno Logistics Pvt. Ltd, which runs hyper-local logistics platform VDeliver, raised an undisclosed amount of funding in its pre-Series A round from Hyderabad-based Corvus Ventures, Mumbai-based MAPE Advisory Group, Sify co-founder R Ramaraj and Microsoft India corporate vice president Anil Bhansali in July.

In May, logistics startup Delhivery Pvt. Ltd raised Rs 200 crore from China’s Fosun International as part of a larger funding round.

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Earlier, Bengaluru-based truck network platform 4tigo Network Logistics raised about $10 million in Series A funding from existing investors Accel Partners and Infosys co-founder Nandan Nilekani.

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