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...