Logistics-tech startup BlackBuck raises $150 Million in series D funding round
BlackBuck raises $150 million (about Rs 1,040 crore) in its Series D funding round led by Goldman Sachs Investment Partners.
BlackBuck close to enter Unicorn club of Indian startups.
BlackBuck has more than 200,000 trucks and over 8,500 shippers on its portfolio of customers.
Bengaluru based Logistics-tech startup BlackBuck has raised $150 million (about Rs 1,040 crore) in its Series D funding round. The round is led by Goldman Sachs Investment Partners. Among the participants in the funding round includes Sequoia Capital, venture capital firm Accel. B Capital a venture capital firm of Facebook co-founder Eduardo Saverin, Sand Capital and International Finance Corporation a the private-sector investment arm of the World Bank.
The startup is planning to use funds to give high competition to its rivals Delhivery and Rivigo. By this funding round, BlackBuck is close to entering Unicorn club of Indian startups. According to multiple media reports The fresh fundraiser takes the total equity capital BlackBuck has mobilized so far to more than $230 million.
Black Buck was founded in 2015 by alumni of IIT Kharagpur Chanakya Hridaya, Rajesh Yabaji, and Ramasubramaniam B. Zinka Logistics Solutions Pvt. Ltd, owner of Bengaluru based Business-to-Business (B2B) technology-enabled logistics startup BlackBuck. 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 leaders including Britannia, Asian Paints, Godrej, Unilever, Jyothy Laboratories and several others are clients of the firm.
Since October last year The Company has been raising capital in multiple tranches it raised in October 2018 Rs 203 crore in a round led by new investor Sequoia Capital. In December, it secured Rs 87 crore from existing investors. It mopped up Rs 303 crore from Goldman Sachs and other investors in March this year and mobilized about Rs 250 crore last month. The startup is enhancing its business aggressively and soon to become a market behemoth in the logistics sector.
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