<article>Bengaluru-based online logistics startup <a href="https://www.dealstreetasia.com/?s=BlackBuck" target="_blank" rel="noopener">BlackBuck</a> is seeking to raise over $100 million in fresh funding, according to sources aware of its fundraising plans.</article>

Bengaluru-based online logistics startup <a href="https://www.dealstreetasia.com/?s=BlackBuck" target="_blank" rel="noopener">BlackBuck</a> is seeking to raise over $100 million in fresh funding, according to sources aware of its fundraising plans.
The company&#8217;s latest funding round, which may value the company over $800 million, is being co-led Goldman Sachs and Singapore-based venture capital firm B Capital Group, which was established by Facebook co-founder Eduardo Saverin.
According to another report, however, US-based late-stage investor Accel Growth and venture capital firm Sequoia may also come in as lead investors in the round. Accel is already an investor in the Indian company. The financing may also see participation from existing backers Sands Capital and the International Finance Corporation (IFC), a part of the World Bank Group.
Blackbuck has already secured about Rs 303.31 crore (about $43 million) from Goldman Sachs as part of the round, according to the company&#8217;s filings with the Registrar of Companies sourced by paper.vc. The logistics startup, operated by Zinka Logistics Solutions Pvt. Ltd, has issued 15,668 Series D compulsory convertible preference shares (CCPS) of face value Rs 10 each to both the investors.
Goldman Sachs, which has routed the investment through Global Private Opportunities Partners III fund, has pumped in Rs 214.10 crore by subscribing to 11,060 CCPS of BlackBuck. B Capital has been allotted 4,608 CCPS in exchange for an investment of about Rs 89.2 crore into the company, the filings show.
Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B, BlackBuck is a B2B tech-enabled logistics startup that brings together shippers and truckers through its online marketplace to facilitate inter-city freight transportation.
BlackBuck claims to be present in over 1,000 locations across the country, with more than 200,000 trucks and over 8,500 shippers on its network currently. Its clientele includes Coca-Cola, Asian Paints, Unilever, Amul, Reliance Industries, Britannia, Godrej, and Marico, according to its website.
The startup had reportedly raised $12.43 million (Rs 87.02 crore) in a funding round led by existing investor Sands Capital and International Finance Corporation (IFC) in December. In October last year, BlackBuck had raised Rs 202 crore in a round led by new investor Sequoia Capital. Sands Capital and Accel had also put money in the round. It also counts Yuri Milner-backed Apoletto and US-headquartered investment firm Tiger Global among its investors.
BlackBuck recorded a 59.1 per cent increase in revenue, up from Rs 566.83 crore in FY17 to Rs 901.9 crore in FY18. Its losses, however, grew by 35 per cent to Rs 116.71 crore in FY18 from Rs 86.51 crore in FY17.
The startup&#8217;s well-funded competitors include Rivigo, Delhivery, Ecom Express, and Fortigo.
Earlier this month, Gurugram-based Delhivery joined the unicorn club after raising $395 million from Japanese conglomerate SoftBank and private equity firm Carlyle at a valuation of $1.6 billion. SoftBank and Carlyle Group now hold 23.41 per cent and 12.39 per cent stakes respectively in Delhivery.
Last month, Rivigo secured $35.6 million in a fresh round of funding led by existing investors Warburg Pincus and SAIF Partners. According to Crunchbase, the startup has secured a total of $216.2 million across six funding rounds to date. In December, LetsTransport had raised $12 million (Rs 100 crore) in a Series B funding round from Bertelsmann India Investments and Fosun International.
Also Read:
<a href="https://www.dealstreetasia.com/stories/delhivery-softbank-carlyle-124425/">India’s Delhivery raises $395m from SoftBank, Carlyle at $1.6b valuation</a>
<a href="https://www.dealstreetasia.com/stories/rivigo-warburg-saif-120409/">Indian logistics startup Rivigo nabs $35.6m led by return backers Warburg, SAIF</a>

The startup has already secured Rs 303.31 crore (about $43 million) from the lead investors as part of its latest funding round.

Indian logistics startup BlackBuck to raise over $100m in Goldman, B Capital-led round

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Indian logistics startup BlackBuck to raise over $100m in Goldman, B Capital-led round

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