BlackBuck raises Rs 1,050 cr in funding round led by Goldman Sachs Investment Partners, Accel

BlackBuck, an online marketplace for trucking, Wednesday said it has raised USD 150 million (about Rs 1,050 crore) in a funding round led by Goldman Sachs Investment Partners and Silicon Valley-based Accel.

Wellington, Sequoia Capital, B Capital and LightStreet were the other new investors who participated in the funding round, the company said in a statement.

The latest round, which takes the total quantum of funds raised by the company to over USD 230 million (about Rs 1,610 crore), also saw participation from existing investors Sands Capital and International Finance Corporation, the investment arm of the World Bank, the statement added.

BlackBuck plans to deploy these funds to penetrate deeper into the national freight transportation market, investing heavily in technology, boosting product and data science capabilities.

"As part of this round, the employees at BlackBuck have access to liquidating 25 per cent of their total vested stocks at the current stock price of the company. .