BlackBuck raises $150 million to digitize freight and logistics across India – TechCrunch
1 May 2019 6:00 AM GMT
India?s trucking system has a big inefficiency problem that continues to drag the economy. BlackBuck, one of the handful logistics startups that is trying to overhaul this system, just raised $150 million in Series D round to further pursue its mission. The new round was led by Goldman Sachs Investment Partners and Accel at a [?]
- The new round was led by Goldman Sachs Investment Partners and Accel at a valuation just shy of $1 billion, according to a person familiar with the matter.
- The four-year-old B2B startup, which connects businesses with truck owners and freight operators, has raised about $230 million in equity financing and another $100 million in debt financing to date, CEO Rajesh Yabaji told TechCrunch in an interview.
- As of today, BlackBuck has 300,000 trucks on its platform and about 10,000 clients including big names such as soft drinks manufacturer Coca Cola, consumer goods giant Unilever, and automotive conglomerate Tata .
- Delhivery, a supply chain startup, has raised north of $670 million from SoftBank, and Tiger Global among others.