Bengaluru-based transport community startup Vahak has acquired Instalogist, a truck booking app and load marketplace platform for long-haul transportation, for an undisclosed amount.
According to Vahak, The acquisition will enable them to expand its network and accelerate growth, further strengthening its capabilities in serving the Indian road transportation sector.
Founded in 2020, Bengaluru-based Instalogic connects load and fleet providers through its Truck-&-Load Marketplace platform for long-haul and local shipments.
“The move is in line with our mission to serve the needs of the fast-growing Indian transport community,” said Karan Shaha, CEO and Co-founder at Vahak. “Together with Instalogist, we are on track to become the one-stop shop for all logistics needs of the Indian road transportation sector.”
The transaction is expected to complete by the end of the month, after which Instalogist users will have access to Vahak’s community of over half-a-million monthly active users and two million registered companies, as well as its value-added services such as vehicle and cargo insurance, GPS, safe and secure payments and e-medical consultations.
Additionally, users will have access to Vahak’s advanced AI and ML technology-enabled marketplace for load-lorry matchmaking based on tonnage and vehicle requirements, route and delivery timelines, and efficient return load booking.
Commenting on the development, Pramod Prakash, CEO & Co-founder of Instalogist, said, “Joining forces with Vahak is a natural next step for us. We are excited to collaborate with like-minded technopreneurs who are willing to transform the Indian logistics sector with focused technologies for load owners and the supply-side trucking community.”
Source @Indianstartupnews
