Indian Logistics StartUp “BlackBuck” Increases Its Total Investment To 27.3 Million USD
BlackBuck, which provides online marketplace services for the Indian logistics market, increased the amount of investment it received from the investor group Sequoia Capital to 27.3 million USD.
According to Blackbuck’s records, Sequoia’s SCI Investment VI fund has reached $27.3M with an additional investment of $13.5M (100 INR Cr). Older backers like Accel and Sands Capital in Blackbuck StartUp make up other investors.
He states that BlackBuck, which started in 2015, is India’s largest trucking platform. It has grown rapidly in the last two years. Revenue growth was 7 times higher in FY17 to INR 76.4 Million (INR 566 Cr) but expenses also increased more than five times to $11.6 Million (INR 86 Cr). Despite this, Blackbuck achieved operational profitability this fiscal year (2017).