BlackBuck

Blackbuck raises Rs 56 Cr in debt and equity round from Trifecta

BlackBuck

Online B2B logistics solutions marketplace Blackbuck has raised Rs 56 crore in a mixed round of equity and debt fund from Trifecta Venture.

According to the latest RoC filings of the company with the Ministry of Corporate Affairs (MCA), the Blackbuck board has approved allotment of 322 Series D CCPS equity shares and 500 series A non-convertible debentures by private placement to Trifecta.

The Bengaluru-based company has raised Rs 50 crore in debt at a price of Rs 10 lakh per share while Rs 6.23 crore has been granted at a price of Rs 1,43,489.51 per share. Though, the company is yet to receive the Rs 6.23 crore. 

The latest round comes five months after its last round of $150 million in Series D funding led by Goldman Sachs Investment Partners and Accel US, with participation from B Capital and Sequoia Capital, at a valuation of $950 million.

So far, Blackbuck has raised a total of $285.2 million in funding. The company will invest the fresh capital in bolstering product and data sciences capabilities.

The logistics soonicorn claims to work with 3 lakh truckers and offer them better earnings and helps clients reduce their costs. According to the CEO of Blackbuck, the rise in fleet owners have led to an increase in earning by almost 30%.

The company is yet to file its annual financial report for FY19. In last fiscal, the B2B logistics firm had witnessed close to a 59% rise in revenue to Rs 901 crore from Rs 567 crore.

Apart from the traditional logistics platforms in the B2B space, the four-year-old logistics firm competes with Rivigo, which turned unicorn in September.

BlackBuck

Blackbuck raises Rs 56 Cr in debt and equity round from Trifecta

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