BlackBuck, India’s largest trucking platform, has raised about Rs 56.23 crore from Trifecta Venture. The funding is a mix of equity and debt. Apart from this, the company has raised Rs 6.23 crore through issuance of 322 Series D CCPS in equity priced at Rs 1.93 lakh, which still has to be received by BlackBuck. The company was founded by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B in 2015.
Earlier, the company had raised $150 million in equity funding led by Goldman Sachs Investment Partners and Silicon Valley-based Accel. This takes the total amount of funding raised by the company to over $230 million.
It is understood that the funds will help in strengthening technology and business growth.
BlackBuck in May claimed to have over 2,50,000 trucks and more than 2000 locations. The company has been a pioneer in bringing the offline operations of trucking online, be it matching a shipper with a trucker or reshaping the infrastructure around trucking to facilitate payments, insurance, and financial services.
