Bangalore based tech-enabled B2B logistic firm Blackbuck has snagged another investment round where it is raising $43.5 million fresh funding. The fresh capital infusion is coming from Goldman Sachs with Facebook co-founder Eduardo Saverin's venture capital firm B Capital is also investing a significant amount through the round.
As per the latest RoC filings, Goldman Sachs is pumping close to $30 million while the rest will come from B Capital. Prior to this round, Sequoia Capital India had invested a significant amount in October last year. The fresh infusion takes the total capital raised by the firm close to $180 million.
Accel, InnoVen Capital, Sands Capital Ventures, IFC Asset Management Company, Tiger Global Management, and Apoletto Managers are the other notable backers of the firm. Notably, a few reports suggest that the fresh round capital infusion has taken the firm very close to the unicorn status.
The platform was launched in 2015 by Chanakya Hridaya, Rajesh Yabaji and Ramasubramaniam B. It connects shippers and truckers through their online marketplace for intercity freight transportation. The platform claims to be having more than 200,000 trucks on its platform with a presence in over 1,000 locations. Likes of Asian Paints, Unilever, Coke, Britannia, Godrej, Marico, Jyothy Laboratories and EID Parry are the clients of Blackbuck.
Rivigo which has support from Warburg Pincus and SAIF Partners and Delivery which has bagged funding from SoftBank are the players with whom Blackbuck competes. With fresh capital infusion, the race in the segment will become more interesting.
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