Private Equity Fund Investments
Trucking platform BlackBuck raises $67-M from Tribe Capital, IFC, others; turns Unicorn
Bengaluru-based online trucking platform BlackBuck has raised USD 67 million in a funding round that valued the company at over USD 1 billion, making it the latest entrant to India's Unicorn club. The fundraise was led by Tribe Capital, IFC's Emerging Asia Fund and Vostok Emerging Finance (VEF), a European investor. Other participants in the round include existing backers Wellington Management and Sands Capital. BlackBuck helps shippers organise trucks, have real-time visibility and end-to-end freight management capabilities. It will use the fresh capital for expansion and launching new services. BlackBuck's last funding round was at USD 950 million valuation in April 2019, when it raised USD 150 million. The company's revenue grew by 27% year-on-year from INR 1,803 crore in FY19 to INR 2,281 crore in FY20. Other investors in the company include Sequoia, Accel, Goldman Sachs and B Capital.
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