Delhi-based logistics startup Truxapp was founded by Manmohan Agarwal along with Dhruv Khandelwal, Sharad Pratap Singh and Naseer Ahmed. Launched in 2015, the startup is a mobile-app based logistics service which connects truck owners to businesses. Agarwal is also co-founder of e-commerce portal Yebhi.com.
The investors in the latest round include Dhoot Family of Videocon Group; Sandeep Sharma, former MD, MENA of a Global Bank; VC Bothra & Family, owners of a shipping company in Singapore; Mandhian family; the family of Ganpat Singhvi, Group Advisor & Director of a UAE-based conglomerate, according to a statement.
“The very idea of creating a single source for logistics services across the country came after experiencing the extremely fragmented logistics market during my Yebhi.com days. Since then, it has been a great journey of learning and hard work to create a platform like Truxapp. Today, we have been successful in creating a tech platform which is solving logistics problems for companies across India,” said Agarwal.
Currently, the startup has pan-India operations and has a reach of almost 150 cities across 21 states. An official statement claims that the company also reached its operational break-even point in 2016.
Source: Inc 42
