Logistics Startup Blackbuck raised $30 Million in Series C funding from clutch of new investors. The new investors of the startup are US based investors named Capital Sands and International Financial Corp which is an arm of World Bank. The new investors have invested $10 Million in the startup.
The Bangalore-based company, Blackbuck was founded in late 2015 by IIT-K graduates Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. Blackbuck is operated by Zinga Pvt Ltd. Previously, the company raised $25 Million in series B funding from investors like Tiger Global, Yuri Milner a billionaire Investor, Accel Partners and Flipkart. Then recently the company has also received $5M investment from Accel Partners and Flipkart. Recently in January 2017, the startup has raised $10 Million of Series B funding from IFC.
BlackBuck is redefining the logistics landscape of India, making it reliable and efficient. The startup’s comprehensive approach to problems creates an impact on the entire ecosystem of transportation, which stitches across a large number of livelihoods. Currently, it covers over 300 locations in India; has 100,000 truck owners and freight operation and over 1000 Employes working under them.
Prior to BlackBuck, its rivals Rivigo have raised $75 million from Warburg Pincus in November 2016.
A source from the market says “Blackbuck and Rivigo are the only scaled-up startups in this sector. Besides, Blackbuck is asset-light since they don’t own trucks, which makes it an attractive investment option. Sands Capital and International Finance Corporations have been active in the Indian start-up space of late and understand the landscape quite well.” Read more startup funding news.