Ltd, which operates online freight service provider BlackBuck, said it has raised $150 million ( ₹1,050 crore) in a Series D equity funding round led by Goldman Sachs Investment Partners and Accel Partners. Significantly, the investment has come at a time when venture capital investments in business-to-business (B2B) startups have been on a rise. BlackBuck was founded in April 2015 by former ITC Ltd executives Rajesh Yabaji and Chanakya Hridaya along with transport industry veteran Ramasubramaniam B. Zinka had earlier raised $70 million in Series C funding in March 2017 from Sands Capital, IFC, Accel Partners and Flipkart. The latest round did not see investments from three of its existing investors— Flipkart, Tiger Global Management and Apoletto, which participated in its first $25 million funding round in 2015.

Source: Mint May 01, 2019 16:52 UTC