India: Logistics startup BlackBuck raises $25m from Tiger Global, Apoletto, Accel & Flipkart

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BlackBuck, a Bangalore-based freight-booking startup, has raised fresh funding to spread to more cities, expand its team and build more products.

The $25 million series B round was led by Tiger Global, Apoletto (Yuri Milner’s Founders Fund), Accel and Flipkart. BlackBuck, registered as Zinka Logistics Solutions, had raised $6 million in June.

BlackBuck was founded by Rajesh Yabaji — also the chief executive — in 2014, and has a team of 200 people, with operations in 40 cities. They will use part of the funding to expand to 200 cities by 2016.

India’s logistics sector is largely unorganised and fragmented. Startups trying to plug that gap and bring more reliability have attracted investor interest because of the huge opportunity it represents. The freight industry is estimated to be worth $100 billion in the next five years.

“Transportation is the largest unorganized sector globally. A majority of this is inter-city logistics. However, the commerce of this industry is unorganized, fragmented and conducted offline. BlackBuck has been formed to re-create logistics commerce with technology at its core, which would enable logistics be simple & effective,” said Yabaji in a statement.

Yabaji co-founded the company with Chanakya Hridaya, and logistics industry veteran Ramasubramaniam B.

The startup counts major companies such as Asian Paints, Unilever, Britannia, Godrej, Marico, Jyothy Laboratories and EID Parry among its clients.

“BlackBuck’s tech enabled marketplace model makes them uniquely placed to scale rapidly, in a large industry that is highly fragmented with very little technology penetration,” said Anand Daniel, Accel Partners in a statement.

Binny Bansal, co-founder of Flipkart, India’s largest online marketplace, said that BlackBuck will strengthen his company’s supply chain, and makes for a good strategic fit.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.