Thu. Mar 28th, 2024

Binny Bansal, who is the founder of homegrown e-commerce firm Flipkart, and working as the chief executive of the Flipkart group, has now joined the board of logistics startup BlackBuck.

The development was first reported by VCCircle. An unnamed source told VCCircle that Bansal has joined the company’s board after Neeraj Aggarwal, former VP of supply chain operations at Flipkart, quit the e-commerce firm and stepped down from BlackBuck’s board in April this year.

Flipkart is one of BlackBuck’s early investors. In June 2015, BlackBuck raised $6 Mn in its Series A round from Accel Partners and Flipkart.

The e-commerce firm followed it with another investment in the startup’s $25 million Series B round of funding in December 2015. Flipkart also participated in the company’s Series C round.

Recently, the company also raised ₹50 crore in a new debt funding round from InnoVen Capital. The startup founded by Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B in 2015.

Apart from BlackBuck, Flipkart has also invested in other logistics firm QikPod, which is a product and service startup founded by the president of Nasscom product conclave Ravi Gururaj.

By Jeet