Logistics start-up closes funding

Ahmedabad-based app-based logistics start-up Transport on Demand (ToD), which provides intra-city transport, said it closed its round-1 fund-raising of $150,000 (approx Rs 1.02 crore) from independent investor Dhruv Taneja. ToD was founded in January 2015 by Yash Vasant of Vasant Group. The company currently offers its services within a 200-km kilometer radius Ahmedabad. ToD is also eyeing a round 2 fund of about $2 million. The app connects potential customers directly with truckers. “Our application allows reverse bidding by the drivers themselves who can double their income significantly,” said Vasant.