M&A
Trucking aggregator Onmove acquires port logistics aggregator Transin
Onmove, a Gurugram-based long-distance trucking aggregator, has acquired Transin Logistics, a Hyderabad-based trucking aggregation platform. The deal will help Transin to expand its user services by offering end-to-end logistical assistance for the transport of final products from plant facilities to the end market. Transin is a 100% asset-light trucking solution business operating in the port ecosystem of India, with an annual revenue of INR 200 crore. Powered by a network of over 34,000 trucks catering to bulk cargo segment, Transin serves clients such as Aditya Birla, Ambuja Cement, ITC, Adani, Nuvoco among others. Gurugram-based Onmove has raised a pre-Series A round of equity funding led by its existing investors Oliphans Capital with participation from several angel investors such as Haresh Chawla. This acquisition is funded through a mix of equity and debt. Venture debt was raised from Chennai-based AIF fund Anicut Capital which was also an equity investor.
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