Logistics startup BlackBuck raises Rs 550 cr funding from Accel Partners US, Goldman Sachs, B-Capital to power its steering
Bangalore based logistics startup BlackBuck has raised Rs 550 crore from Accel Partners US, Goldman Sachs and B-Capital in its ongoing Series D funding. The firm has received the second tranche of the $150 million funding round. This round was started less than a month ago, with an investment of $43.84 million by Goldman Sachs and B Capital. Now, the firm has received a fresh tranche from Accel and two arms of B Capital, as per its latest RoC filing with MCA. In this Tranche, Accel has invested Rs 214.11 crore, i.e approximately $31 million, B Capital Asia invested Rs 1.36 crore and B Capital Global has contributed Rs 34.52 crore, i.e approximately $5 million making it a total of $36.29 million, i.e Rs 249.79 crore. The total funds raised in this round by the firm comes to $80.13 million, i.e Rs 553.1 crore.
Moving across India
Blackbuck claims itself as India’s largest trucking Platform with a large fleet of 2,50,000+ trucks, serving 10000+ clients across 2000+ locations. Founded in December 2015 by Chanakya Hridaya, Rajesh Yabaji and Ramasubramaniam B, this B2B intercity logistics startup boasts of a noteworthy clientele, including names like Asian Paints, Unilever, Coke, Britannia, Godrej, Marico, Jyothy Laboratories, and EID Parry. BlackBuck is bringing the offline operations of trucking online through infrastructure improvement, facilitating payments, insurance and financial services. They are enabling convenience for shippers and truckers.
BlackBuck is pressing their accelerators with an enormous power to wear the Unicorn crown. It is right next to Rivigo in the race. Being the youngest among its competitors like Rivigo and Blowhorn, this pace of success is surprisingly great and the company is also inching closer to that $1 billion benchmark figure to be a unicorn. BlackBuck is planning to use this funding in its core freight marketplace operations in the country. The company is planning to provide ancillary services to its truckers along with the provision of financial services like working credit, short term loans, and vehicle finance.
You might like these