Friday, July 19

Chennai Based Intracity Logistics Platform Raises 20 Crore Funding

Chennai based mini-truck aggregator platform raises ₹20 Cr funding from its existing investor, Ramco Group and the promoters – P.R. Venketrama Raja (Chairman, Ramco Systems) and his son Abinav Raja(Co-founder, Lynk).

Founded by Abinav Raja and Shekhar Bhende, Lynk is an intra-city on-demand last mile technology platform that connects customers (individuals/businesses) with trucks (logistics service providers) to efficiently move goods. The app service was first launched in Chennai and are now planning to expand to other cities.

“We have proven time and again that some of our drivers have generated Rs. 45,000 to Rs. 50,000 per month on a Tata Ace and are confident that this will be sustainable for at least five years down the line”, said Mr. Shekhar.

Lynk office
Lynk office

The startup has received ₹6.6 Cr and the remaining ₹13.4 Cr is outstanding to be paid later. Including this round, Lynk has so far raised ₹26.6 Cr funding.

The company’s pricing is algorithmic and is based on a base fare and journey time. You can Track your goods while trucks complete the trip and pay the suggested fare.

The app will show real-time the movement of the truck in a map-view, with color-coded updates on successful deliveries at the trip destinations.