Delhi based on-demand logistics service provider startup Moovo has raised undisclosed amount in a funding round led by Yuvraj Singh’s YouWeCan Ventures. A few other angels also participated in this round of funding including Vikram Chachra of Eight Innovate, former Paytm VP Pratyush Prasanna, Anindya Shuvra Sen, President of HR Reliance Jio Bijay Sahoo, Nitin Sethi, Sameer Nagpal of Cocubes.com and Doshi Family of Doshi Diagnostics.
Founded by IIT Delhi Alumnus Abhishek Anand and Anjani Kumar, the startup was launched in December last year and lets users to book mini trucks. The startup offers a web platform and a mobile app which can be used for booking trucks. Adding on, one can also call for booking its services.
Moovo claims to provide trucks in 30 mins.
According to research reports, the market for mini truck transportation in India is $6 Bn annually, of which only 3-5 % is organised and rest in unorganised.
As per the company, it is currently processing over 1,000 orders a month in Delhi and NCR and has plans to expand to atleast 6 other cities by the end of this year.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.