Chiratae Ventures, Dell Foundation, others invest in logistics startup Blowhorn

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Blowhorn, a logistics space, based out of Bengaluru, has been able to raise an undisclosed round of funding led by a confidential investor.

The round also saw participation from Chiratae Ventures, Dell Foundation, Venture Catalysts, Dream Incubator.

The company said that it plans to utilise the funding on innovation and expansion of the company.

Mithun Srivatsa, Co-founder and CEO of Blowhorn, said, “We closed our fundraise to optimise speed and momentum to keep building a category-defining company. Now, with a strong core team in place, we are expanding rapidly and are seeing significant growth in our recently launched verticals. Our goal is to be active in more than 100 cities across India by 2021, and we are on track to achieving that. We are also in the final stages of executing our first international foray, and we are very excited about it. Our margin profile remains healthy and has grown 30 percent over the last quarter.”

Blowhorn was founded by Mithun Srivatsa and Nikhil Shivaprasad in 2014. The platform operates in all major metros in India with services from the first mile, middle mile, and last mile while handling goods from 1 g to 1 tonne.

The company is owned by Catbus Infolabs, which provides a full-stack of services that offers an asset-light model via its tech platform, which connects logistics service seekers with mini- truck drivers through its website and mobile app.

Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, said, “The mini-truck transportation market in India is estimated to be at a valuation of Rs 30,000 to 60,000 crore, annually. Additionally, the granting of industry status to the logistics sector has further enhanced the ease of accessing finance and extended other opportunities to players in the sector. Blowhorn has been doing some exceptional work in the domain, and we are certain the current round of investment will go a long way in empowering the company to expand and enrich its operations.”

The logistics sector in India comprises of many more startup in the domain, which include Rivigo, Shadowfax, Porter, Delhivery, Transport EG, TruckEasy, etc.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Dabang Delhi, Bengal Warriors to clash for PKL 7 trophy

By Kaushik KumarAhmedabad, Oct 18 (IANS) 'Most toughest season', the organisers had termed the Season 7 of the Pro...

Sensex extends gain, Nifty above 11,600

Mumbai, Oct 18 (IANS) Indian markets gained during the early trade on Friday as investors bought company shares with significant business in Britain after...

TikTok ‘poaching’ Facebook employees right in its backyard

San Francisco, Oct 18 (IANS) Chinese short-video making platform TikTok is reportedly poaching Facebook employees and has moved into an office space in Mountain...

Gauhar Khan gives travel goals with THESE latest pictures

Actress Gauhar Khan has made a name for herself in the television industry with her long list of work. She recently shared some of her...

How Preity Zinta and Other Bollywood Celebrities Celebrated Karwa Chauth in Their Own Style?

Be it glamour parties, award functions, or any festival our Bollywood celebrities are always ready to celebrate it with full power. On 17th October...
- Advertisement -

More Articles Like This