The online logistics startup, BlackBuck, raised an amount equal to $150 million in a series D funding round led by Goldman Sachs Investment and Accel. The total funds raised by the company so far are at $230 million.
Besides Goldman Sachs and Accel Partners, the other partners were Sequoia Capital, LightStreet, Wellington, and B Capital. Existing investors, International Finance Corporation and Sands Capital also participated in the funding round.
The company, operated by Zinka Logistics Solutions Pvt. Ltd., is based in Bengaluru. This recent round of funding has been raised during a time when venture capitalists are increasingly investing in business-to-business startups.
BlackBuck will use the funds raised recently to add more tracking partners in the current and new transportation corridors. Also, to make the freight matching processes more efficient, the company will enhance the product and data systems.
The online platform for trucking uses technology to match a trucker with a shipper in real time. This ensures the process is transparent, offers better services, increases utilisation of trucks, and prices the services efficiently. It also offers other services such as insurance, fleet cards, IoT, working capital credit, and tyres to truckers.
Source: Your Story