Bengaluru-based logistics company Vahak generated an exponential 32X growth in revenue in FY23 as compared to the previous fiscal year’s Rs 1.68 crore. Over 98% of the total revenue recorded in FY23 came in from operations.
Established by Karan Shaha and Vikas Chandrawat, Vahak is a B2B transportation platform that lets users book vehicles like trucks, trailers, containers, and LCVs from a network of transport businesses and lorry owners spanning across the country.
The live transport marketplace’s expenses spiked 20X to Rs 60.6 crore in the fiscal year ending March 2023. While a majority of these expenses were contributed by employee benefit costs, advertisements and promotional expenses cost a little over Rs 16 crore to the company.
The company’s losses grew almost 5X to Rs 6.1 crore in FY23. Its EBITDA margin improved to a negative 5.8% and ROCE dropped to -14.8%.
Having raised over Rs 143 crore through 4 funding rounds, its major investors are Nexus Venture Partners, RTP Ventures, Leo Capital, and Devendra Kumar Chandrakar.
The seven-year-old company scooped up over Rs 100 crore in its Series A round in 2022 with Nexus Venture Partners as the lead investor. Leo Capital, RTP Ventures, Titan Capital, iSeed Ventures, Foundamental, Kunal Bahl, Rohit Kumar Bansal, and Mayank Agrawal also participated.