Bangalore based BlackBuck, a B2B logistics startup, has raised Series B funding worth $25 million from Tiger Global, Apoletto (Yuri Milner’s founders fund), Accel and Flipkart. It plans to use the funds for expansion, building products and setting up the team. A team of 200 currently, the company is operational in 40 locations in India, with plans to scale to 200 locations through next year. The company had previously raised $5 million from Accel and Flipkart earlier this year.
In a press statement, Binny Bansal, co-founder and COO of Flipkart said that “.. BlackBuck brings in new tech capabilities that will not only strengthen Flipkart’s supply chain, but will also pave the way for innovations in this area.” Earlier this month, Flipkart had acquired a strategic minority stake in MapmyIndia for an undisclosed amount, aiming to license map data and location technologies to pad its supply chain (first mile pickup, last mile delivery) and logistics operations.
BlackBuck was founded in April this year by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. It’s parent company Zinka Logistics Solutions describes itself as an online marketplace for logistics transactions, whose customers include individuals, small businesses and corporates who want to use moving services. BlackBuck claims to bring truckers and customers on a platform to transact using auction engines on mobile interfaces. It also claims clients in Asian Paints, Unilever, Britannia, Godrej, Marico, Jyothy Laboratories and EID Parry.
Recent developments:
– Yesterday we reported that Mumbai based Parsel, a logistics company, had acquired Accord Ecom Solutions, a third party logistics provider, for an undisclosed amount. More on developments in the online logistics sector this year here.
– Last month, Shadowfax, an on-demand delivery startup, acquired its peer Pickingo for an undisclosed amount in a cash and stock deal.
– In October, we reported that 90% of sellers were using Amazon’s warehouse and logistics services in the country. Amazon India has 21 fulfillment centres operating across 10 states in India with a total storage capacity of over 5 million cubic feet. (Related read: Amazon extends ATSL services to India to provide end-to-end logistics)
– In the same month, Mahindra & Mahindra launched SmartShift, a platform that connected cargo owners with transporters.
– Snapdeal invested $20 million in logistics firm GoJavas to enhance its supply chain and logistics.
– In June, Dubai based startup Fetchr raised Series A funding worth $11 million from multiple investors to launch its mobile app on Android and iOS and product development.
Image Credit: Axisadman
