Bengaluru-based Zinka Logistics, which owns and operates logistics marketplace BlackBuck, has raised ₹202 crore in its new funding round. With this funding, Sequoia Capital — the biggest VC firm in the country — joins BlackBuck as a new investor.
According to the documents filed with the Registrar of Companies, Sequoia’s SCI Investment VI fund has invested over ₹100 crore. The rest of the amount comes from the company’s existing investors, including Accel Partners and Sands Capital.
Interestingly, Sequoia Capital had earlier invested in Porter, a rival company of BlackBuck. Porter is also a logistics marketplace that lets users book trucks and tempos.
BlackBuck started its operations in the year 2015 as a freight marketplace for businesses, and has seen fast growth in the last two years. While its revenue grew seven-fold in FY17 to ₹566 crore, losses also grew more than five times to ₹86 crore.
The company has more than 100,000 trucks on its platform, and has established presence across 300 locations in the country. It boasts an illustrious clientele, including names like Asian Paints, Unilever, Coke, Britannia, Godrej, Marico, Jyothy Laboratories, and EID Parry.