BlackBuck, startups, unicorn

Online trucking logistics platform BlackBuck said on July 22 that it has raised funds valuing it at over a billion dollars, making it the latest entrant to India’s unicorn club in a record-breaking year for startup funding.

BlackBuck raised $67 million led by Tribe Capital, IFC’s Emerging Asia Fund and Vostok Emerging Finance (VEF), a European investor. It did not specify its valuation but a person familiar with the matter said it was valued at $1.02 billion, marginally higher than the $950 million it was valued at in May 2019 according to media reports. This person however said BlackBuck’s valuation two years ago was about $850 million.

BlackBuck helps shippers organise trucks, have real-time visibility and have end-to-end freight management. Other investors in the round include existing backers Wellington Management, Sands Capital and IFC. 

“BlackBuck started with a dream to re-imagine trucking, to make it 10X simple and 10X efficient. It has been six years and we are just getting started to make a difference. We continue to dedicate ourselves for the foreseeable future to solve fundamental Indian trucking problems. The new financing round gives us more firepower to invest in fundamentally hard trucking problems and continue deepening our reach & impact,” said Rajesh Yabaji, co-founder and CEO of BlackBuck.

Its other investors include venture firms Sequoia, Accel, Goldman Sachs and B Capital.

BlackBuck said it has over 1.2 million trucks on its platform across 700 districts over 1,000 industrial hubs. Its customers include Hindustan Unilever, Coca Cola, Asian Paints and the Tata Group.

“India’s supply chain and logistics industry is moving from paper and pencil to digital. BlackBuck’s ability to measure output and productivity growth has streamlined logistical challenges for the industry over a short time frame. Its continued high-velocity growth promises to bring even greater transformation to the Indian trucking ecosystem,” said Arjun Sethi, Co-Founder and Partner at Tribe Capital.

BlackBuck’s valuation has risen marginally or remained flat, depending on what regulatory filings would reveal at a time when internet startups have otherwise raised money at successively higher valuations in a short period of time.

The logistics firm is India’s 16th unicorn in half a year, compared to 11 unicorns in all of 2020. 


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Startups don’t need just money, they need help and mentoring, India’s newest VC fund Together says

Some of India’s top entrepreneurs and investors have come ‘together’ to start a new venture fund (pun intended). Freshworks’ Girish Mathrubootham, Eka Software’s Manav Garg and former Matrix Partners investor Shubham Gupta, have launched an $85 million fund- named Together- meant to back innovative software and product startups. In a…

Read more: Startups don’t need just money, they need help and mentoring, India’s newest VC fund Together says

Unacademy announces Teacher Stock Options for its educators

Online learning firm Unacademy is planning to give stock options to educators on its platform, meant to motivate them and retain quality talent for the SoftBank-backed company. “We are announcing Teacher Stock Options (TSOPs) for all Unacademy Educators. Unacademy Educators will be eligible for fully vested Stock Grants on completion…

Read more: Unacademy announces Teacher Stock Options for its educators

Crypto startup Vauld raises money from Peter Thiel fund, others

Representative image. Vauld, which wants to be a bank for cryptocurrency holders, said on July 29 that it has raised $25 million in Series A funding led by Valar Ventures- a firm co-founded by PayPal founder Peter Thiel along with other investors. Pantera Capital, Coinbase Ventures, CMT Digital,  Gumi Cryptos,…

Read more: Crypto startup Vauld raises money from Peter Thiel fund, others

Bans, stock collapses and policy overhaul: China’s tech crackdown, explained

Investors are shocked worldwide. Company executives are still grasping the full extent of what has happened. The Chinese government’s crackdown was best described by author Ernest Hemingway when he described going bankrupt- “gradually, then suddenly”. The government’s increasing skepticism about technology and large tech companies has been apparent for months…

Read more: Bans, stock collapses and policy overhaul: China’s tech crackdown, explained

Kalaari Capital launches CXXO, earmarks $10 million to back women founders

Kalaari Capital on Wednesday launched CXXO, an initiative as part of which it has set aside $10 million (Rs 74 crore) annually, to invest in startups that have women founders as key decision-makers. The amount has been set aside from the existing fund of the Bengaluru-based venture capital firm that…

Read more: Kalaari Capital launches CXXO, earmarks $10 million to back women founders

Unicorn Gupshup raises $240 million from Fidelity, others

Rohin Parkar, Co-Founder and CEO at Spintly said these funds will be used for marketing and research aimed at enhancing position in the wireless cloud access control technology space and boosting sales. Enterprise messaging platform Gupshup said on July 28 that it has raised $240 million from Fidelity, Tiger Global…

Read more: Unicorn Gupshup raises $240 million from Fidelity, others

Freshworks, Eka Software founders launch Together, a $85 million VC fund for SaaS startups 

Some funds have held internal meetings where Tiger’s strategy, or seemingly the lack of one- has dominated discussions. Freshworks founder Girish Mathrubootham and Eka Software founder Manav Garg said on July 28 that they have launched Together, an $85 million venture capital fund that will back early-stage enterprise software startups.…

Read more: Freshworks, Eka Software founders launch Together, a $85 million VC fund for SaaS startups 

Monarch Networth Capital to soon launch Rs 100 crore startup fund

Ahmedabad-based financial services company Monarch Networth Capital will soon launch its Rs 250 crore category III AIF fund and a Rs 100 crore startup fund that it will look to raise from high networth individuals or HNIs, a senior company official said. It will also apply for a mutual fund…

Read more: Monarch Networth Capital to soon launch Rs 100 crore startup fund

Klarna’s UK rival Payl8r is set to become £1B fintech business; secures £40M funding

ShareChat raises $145 million from Temasek, Mirae, others at near $3 billion valuation

Want to IPO in 12-18 months, going public is a big aspiration: Byju Raveendran

Exclusive | China ed-tech crackdown will benefit India the most: Byju Raveendran

Exclusive | China ed-tech crackdown will benefit India the most: Byju Raveendran

BenevolentAI ‘s former VP of Strategy picks £3M to launch a tech startup to reduce workplace stress

Thrasio-style GOAT Brand Labs raises $36 million from Tiger Global, Flipkart Ventures, Mayfield

Byju's acquires Great Learning for $600 million, enters upskilling space

OTHER NEWS