Bangalore based Business-to-business logistics startup, BlackBuck has raised $25 million in Series B funding from Tiger Global, Russian billionaire-investor Yuri Milner’s Apoletto fund, existing investors Accel Partners and Flipkart also participated in this round, said in a statement.
The funding will be used towards expansion, to build the product and set up the team.
BlackBuck was founded in April 2015 by IIT Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. BlackBuck is an online marketplace for logistics transactions, helping customers move full truck loads between cities.
BlackBuck brings truckers and customers on a platform to execute the transaction using intelligent auction engines equipped with smart mobile interfaces.
The startup raised $5 million in funding earlier this year from Accel Partners and Flipkart. BlackBuck has 200 employees and has presence in 40 locations across the country. It plans to expand to 200 locations over the next year.
The company said it clients include Asian Paints, Unilever, Britannia, Godrej, Marico, Jyothy Laboratories and EID Parry.
Binny Bansal, COO and co-founder of Flipkart, said BlackBuck brings in new tech capabilities that will strengthen Flipkart’s supply chain.
Anand Daniel, who led Accel Partners’ investment in BlackBuck, said the company’s tech-enabled marketplace model makes it uniquely placed to scale rapidly in a large industry that is highly fragmented.
Tiger Global has last week raised, 2.5 billion for investments in private companies.