UditB2B logistics startup, BlackBuck has now secured INR 56.23 crore from the Trifecta Venture. The funding round is a mix of debt and equity both, said the announcement.
According to the report, BlackBuck has secured INR 50 crore in debt, with the issuance of 500 securities, priced at face value of INR 10 lakh across the Trifecta Venture Debt and Trifecta Venture Debt Fund I. Moreover, the logistics company has secured INR 6.23 crore via the issuance of 322 Series D CCPS in the equity proceed at the INR 1.93 lacs, said the company.
Post the equity round, the total valuation of the startup was around $900 million. The company was founded by the Chanakya, Ramasubramaniam and Rajesh. BlackBuck in the month of May has claimed to have more than 300000 trucks and more than 60000 fleet owners on its platform.