Moovo Raises Funding from Yuvraj Singh Backed YouWeCan Ventures

Delhi-based on-demand logistics service provider, Moovo has raised funding from Yuvraj Singh’s YouWeCan Ventures. The other investors who are participating in this round include- 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 alumni Abhishek Anand and Anjani Kumar in December 2014, the startup offers trucks in 30 minutes. It provides a web platform and a mobile app for booking trucks. Currently, it is processing over 1,000 orders a month in Delhi/NCR, and plans to expand its services to six other cities by the end of this year.

Other startups which operate in the same space are Blowhorn, TheKarrier, and ThePorter. Two days back, Intra-city logistics service provider Shippr, raised $500,000 in seed-funding from early stage investor cum accelerator i2india Pvt Ltd. TheKarrier raised $235,000 from Sol Primero and Outbox Ventures in May this year. In April, Mumbai-based startup, The Porter closed a funding of under $500000 from Kae Capital.

Apart from this, Yuvraj Singh’s investment company had also made an investment in Dubai-based mobile marketplace for beauty and wellness segment, Vyomo in April.

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