Logistics startup BlackBuck is in funding talks to raise USD 150-250 million, as it seeks to capture the massive trucking market and take on bigger rival Rivigo, according to two people familiar with the development. The Bengaluru-based company is seeking a USD 1 billion valuation in this funding round, though it is unclear if investors would meet this price, said one of the people cited above.
BlackBuck has appointed JPMorgan as its investment banker for the proposed new round, the two people cited above said.
The trucking startup has approached a bunch of investors, including Naspers and SoftBank, the people said. It has also initiated discussions with strategic investors for the fundraise, they said. None of the discussions has reached an advanced stage.