Sequoia leads $27m round for India's BlackBuck

The venture capital firm invested via its sixth fund, which closed earlier this year at $695 million. Existing backers Accel Partners and Sands Capital also contributed. According to VCCircle, the deal values the company at around $190 million.

It follows a $70 million Series C round last year led by Sands and a $25 million Series B in 2015 that included participation by Tiger Global, Accel, e-commerce giant Flipkart, and a fund linked to Yuri Milner of DST Global. Other backers include InnoVen Capital India and the IFC.

Founded in 2015, BlackBuck operates an online marketplace the company helps match long-haul trucking service providers with enterprise clients. The company, which is also known by the name of its parent Zinka Logistics, had 100,000 trucks on its platform as of last year.

BlackBuck is expected to benefit from a surge in domestic intercity trucking on the back of a new goods and services tax regime. CEO Rajesh Yabji told AVCJ last year that demand would increase as supply chain networks were optimized and trucking became “more business-efficient rather than tax-efficient.”

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• Topics
• South Asia
• Support services
• Expansion
• India
• Sequoia Capital
• Accel Partners
• Sands Capital
• Logistics