Top News

|  DP World reports 10.7% gross volume growth in Q2 2017  |    |  Major Ports post combined net surplus of INR 2820 cr in FY 2017  |    |  Odisha sets a target to reach INR 1 lakh cr exports by 2025  |    |  Shapoorji Pallonji Group to spend INR 2,000 cr in Odisha Gopalpur Port  |    |  Air India SATS Airport Services launches mobile app for tracking cargo  |    |  IndiGo & Jet introduce additional flights to Doha, Mumbai from Kozhikode  |    |  Port of Rotterdam registers impressive container throughput rise in H1  |    |  New waterways to connect India with Bangladesh  |    |  Yang Ming to start New Korea-Taiwan-Hong Kong service  |    |  DFC to be commissioned in 2 years  |    |  Domestic air traffic up 20% in June  |    |  No new port in 100 km vicinity of major ports  |    |  IRCTC to install 1,100 water vending machines at railway stations  |    |  Port of Antwerp first half volume increases by 1.9% to 5,143,305 TEU  |    |  Asia-Europe rate falls 2.1% to USD 919 TEU, declines 3.1% to USWC  |    |  Operations at international cargo terminal likely to begin soon  |    |  Haicang Port sees 1H cargo rise 20.7% to 3.12 million TEU  |    |  Bahri gets delivery of 39th VLCC, strengthens its leading position  |    |  Shreyas Shipping & Logistics signs MoA to acquire one Multipurpose vessel  |    |  Businessman to sell 12% stake in CIAL  |   
You are here: Home » National News » Supply Chain» BlackBuck raises nearly INR 476 cr from Sands Capital and existing investors

BlackBuck raises nearly INR 476 cr from Sands Capital and existing investors

22 March 2017 | Mumbai


BlackBuck, today announced it has raised USD 70 million (approximately INR 476 cr) in a Series C funding from Sands Capital and existing investors.

The latest round of funding will be invested in building technology-led products for the freight industry to bring out efficiencies for, both, customers and truckers.

The company said in a statement here, It will also use the funds to scale up operations. BlackBuck was founded by a three member team with a cumulative 25 years of logistics experience in April 2015.

Rajesh Yabaji, Cofounder and CEO, BlackBuck said,“Over the past couple of years, our understanding of freight dynamics has helped us create defensible frontiers in this industry. The journey going ahead is to fuel this revolution and enable the entire transportation ecosystem to converge towards it. This round of fund raise will help us invest much more aggressively in products & technology.”

According to Novonous market research, road freight is the largest transportation segment in India, constituting around 63% of the total freight movement and, is currently valued at USD 140 billion.

Inter—city logistics accounts for nearly 95% of road freight movement; BlackBuck aims to revolutionize this large segment, removing bottlenecks and inefficiencies, using technology.

BlackBuck currently has over 1 lakh trucks on its platform, present across 300 locations in the country.

In early 2015, BlackBuck had raised Series A funding of USD 5 million from Accel Partners and Flipkart, and a USD 25 million Series B round from Tiger Global and Apoletto (DST—Yuri Milner Founder Fund) with co—investment from Accel and Flipkart in December 2015.

Transreproter Logo