Logistics startup BlackBuck has raised $12.43 million (Rs 87.02 crore) in a funding round led by existing investor Sands Capital, and International Finance Corporation (IFC), a part of the World Bank Group, VCCircle reported.
Quoting the company’s filings with the Registrar of Companies, the report said that Sands Capital has invested Rs 50.78 crore ($7.25 million) in the current round while IFC has pumped in the rest. The new round has valued the company at $202-207 million, it added.
In October BlackBuck, operated by Zinka Logistics Solutions Pvt. Ltd, had raised Rs 202 crore in a round led by new investor Sequoia Capital. Sands Capital and Accel had also put money in the round. So far, BlackBuck has reportedly raised over $130 million in external funding. The company also counts Yuri Milner-backed Apoletto, and US-headquartered investment firm Tiger Global among its investors.
A Mint report in November said BlackBuck was in talks to raise $150-250 million, and that it had appointed JPMorgan as its investment banker to execute the same. The Bengaluru-based company had approached a bunch of investors, including Naspers and SoftBank.
Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B, BlackBuck is a B2B tech-enabled logistics startup that brings together shippers and truckers through its online marketplace to facilitate inter-city freight transportation.
The Bengaluru-based startup claims to be present in over 1,000 locations across the country, with more than 200,000 trucks and over 8,500 shippers on its network currently. It clientele includes Coca-Cola, Asian Paints, Unilever, Amul, Reliance Industries, Britannia, Godrej, and Marico, among others, according to its website.
BlackBuck competes with the likes of Rivigo and Fortigo.
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