Blackbuck gets $150mn from Goldman Sachs, others

Blackbuck gets $150mn from Goldman Sachs, others
Blackbuck gets $150mn from Goldman Sachs, others

Inter-city trucking and supply chain start-up Black-Buck has raised $150 million in Series-D funding, led by Goldman Sachs Investment Partners and Accel US, with participation from B Capital and Sequoia Capital. The latest round takes the total amount of funds raised to over $230 million and values the Bengaluru-based Zinka Logistics Solutions, which runs BlackBuck, at around $950 million. As part of this round, BlackBuck employees can sell 25 per cent of their total vested stocks, CEO Rajesh Yabaji told Indian media. About 50 per cent of this corpus is eligible for vesting, Yabaji said, which makes the total ESOP transaction close to $5.2 million (Rs 37 crore) in this round. The company plans to deploy cash to onboard new trucking partners, expand to newer transportation corridors, and invest heavily in product and data sciences capabilities. Sami Ahmad, head of Asia for Goldman Sachs Investment Partners Venture Capital & Growth Equity, said: “Currently, the market is fragmented and inefficient due to highly manual and opaque processes, leading to poor experiences for stakeholders across the value chain. We see enormous potential for innovation in the full truck load logistics market in India.”

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