BlackBuck turns unicorn with $67 million fund raise

Online trucking platform BlackBuck on Thursday said it has
raised $67 million as a part of its Series E funding round at a
valuation of $1.02 billion, making it the newest entrant to India's
growing list of unicorn startups.

The fundraise was led by US-based Tribe Capital, IFC Emerging
Asia Fund and VEF. Existing investors including Wellington
Management, Sands Capital and International Finance
Corporation also participated.

BlackBuck is the sixteenth startup and the first logistics firm to
turn a unicorn this year. The startup is also backed by B Capital,
Flipkart, Sequoia Capital and Tiger Global.
With the latest fundraise, the company plans to deepen its
market penetration and launch new service offerings. The
company will also invest heavily in product and data sciences
capabilities to make its operations more efficient.