Business-to-business tech-enabled logistics startup, Blackbuck has now secured $12.5 million (Rs 87 crore) from some of its existing investors. Blackbuck is operated by Zinka Logistics Solutions Pvt Ltd.
According to the company report, the existing investor Sands Capital led the round by investing Rs 50.78 crore. The remaining amount has been invested by the International France Corporation, the investment arm of the World Bank.
However, it has not been disclosed whether the latest funding is a part of a larger funding round. According to a report by The Economic Times, last month, Blackbuck was in talks to secure anywhere between the $150-$250 million in a fresh funding round from some potential investors, which among others include Naspers and Softbank.
In October 2018, the logistics firm had raised Rs 202.96 crore ($27.4 million) in a funding round, which was led by Sequoia Capital. Existing investors Sands Capital and Accel had also participated in the round.
Founded by the IIT Kharagpur alumni Rajesh Yabaji, Chankaya Hridaya, and Ramasubramaniam in the year 2015, Blackbuck offers B2B logistics solutions for long-haul trucking. With the help of its online marketplace, it facilitates intercity freight transportation by bringing together truckers and shippers.
Picture Credits: Blackbuck