BlackBuck raises $79.9 Million in series D funding round.
BlackBuck reaches close to Unicorn club by valuation reaching to $908.25 Million.
The company brings together shippers and truckers through its online marketplace to facilitate inter-city freight transportation.
Zinka Logistics Solutions Pvt. Ltd, owner of Bengaluru based Business-to-Business (B2B) technology-enabled logistics startup BlackBuck has raised $79.9 Million (Rs. 550 Crore). According to the Registrar of Companies (RoC) filings by the company, B-Capital, the venture firm by Eduardo Saverin, Co-founder of Facebook, Goldman Sachs, and Accel Capital. The funding round is led by Accel by contributing $30.92 million (Rs 214.10 crore) and B-Capital and Goldman Sach contributed the rest amount. B-Capital has also previously invested $12.8 million (Rs 89.20 crore) as part of a $43.53 million round led by US-headquartered investment bank Goldman Sachs last month. The valuation of the company was thrice from its previous once in the previous funding round. In the last round, the company was valued $860.70-879.34 million from $202-207 million.
The latest funding round has enhanced the company’s valuation to $908.25 Million. By this funding round, Black Bucks is extremely close to entering unicorn club by end of this Series D funding round.
The startup is continuously raising funds since last October. In December, the firm had raised Rs 87.02 crore ($12.43 million then)from existing investors Sands Capital and International Finance Corporation (IFC), the World Bank’s private-sector investment arm.
Black Buck was founded in 2015 by alumni of IIT Kharagpur Chanakya Hridaya, Rajesh Yabaji and Ramasubramaniam B. The company offers B2B logistics solutions for long-haul trucking. It brings together shippers and truckers through its online marketplace to facilitate inter-city freight transportation. The firm currently provides its services in more than 1,000 locations across the country, has more than 200,000 trucks and over 8,500 shippers on its portfolio of customers. All major market giants including Britannia, Asian Paints, Godrej, Unilever, Jyothy Laboratories and several others are clients of the firm. The startup is enhancing its business aggressively and soon to become a market behemoth in the logistics sector.
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