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BlackBuck Raises $7.6M Venture Debt From InnoVen

18Oct By RishabhNo Comments

FUNDING

BlackBuck Raises $7.6M Venture Debt From InnoVen

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...

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Logistics startup BlackBuck raises $25M from Tiger Global

BlackBuck, a business-to-business logistics startup, has raised $25 million in Series B funding from Tiger Global and other investors. Russian billionaire investor Yuri Milner’s Apoletto fund and existing investors Accel Partners and Flipkart also put money in this round, BlackBuck said in a statement. The startup, owned by Zinka Logistics Solutions Pvt Ltd, would use the funds for expansion, to build products and set up the team. BlackBuck was founded in April this year by IIT Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. It had received $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 c...