Online logistics services aggregator, BlackBuck has secured $25 Million in Series B round of funding from Tiger Global Management and other investors. The other investors, who have also participated in this round of funding, are existing investor FlipKart and Accel Partners as well as Russian billionaire Yuri Miller’s Apoletto fund. The startup had raised $5 Million from FlipKart and Accel Partners in June this year.
BlackBuck is a Bangalore based business to business logistics startup that is owned by Zinka Logistics Solutions Pvt. Ltd. It works as a portal for connecting potential businesses customers to the trucks for inter-city transportation. The startup was founded by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B in April 2015.
The BlackBuck will use this fund to develop a new robust technology infrastructure as well as building its team. The startup currently operates in 40 locations in India and has 200 employees, but it is planning to expand its businesses to at least 200 locations by the end of 2016. Its customers are some big Indian companies like Asian Paints Ltd, Britannia Industries Ltd, Godrej and Marico Ltd among others.
Logistic market is on boom in Indian market, as it is getting lots of funding from various investors. Snapdeal had also invested $20 Million in Gurgaon based online logistic company, GoJavas two months ago. FlipKart had also bought back its logistic arm eKart from WS Retail in September this year. Amazon also has its own logistic service named Amazon Transportation in India.