Bengaluru-based logistics startup raised an undisclosed amount in its Series B3 funding round from a new investor, Symphony International Holdings Limited, and existing investors including Chiratae Ventures, Draper Associates, and Michael and Susan Dell Foundation.
According to the official statement, the funding will be deployed for supporting Blowhorn’s network expansion plans, enabling it to extend its geographical reach across India and serve a wider customer base.
Mithun Srivatsa, Co-founder and CEO of Blowhorn [Image Credit: Blowhorn]
“We are not only excited to be partnering with the team behind Symphony International Holdings Limited, who bring their experience of the Asian logistics sector, but we are also pleased to have included a number of our existing investors in this round of funding. Our aim is to disrupt the last-mile logistics sector in India through scaling up our network operations so that we are able to reach every pin-code in the country with the speed that every delivery deserves,” Mithun Srivatsa, CEO of Blowhorn said in a statement.
Founded in 2014, Blowhorn is a same-day, intra-city and last-mile logistics provider. It provides transportation, warehousing, and a fully integrated technology solution to manage the end-to-end supply chain journey. Currently, the startup claims to serve 70 cities across India.
It connects customers with intracity transportation to handle loads from one gram to one tonne. The startup also provides fulfilment services and full API integrated delivery services.
Prior to this, the startup had raised undisclosed venture debt funding from Trifecta Capital in May 2020.
“The breakout nature of innovation within the Indian logistics sector is currently a very exciting space for us to be a part of. We are excited to partner with the Blowhorn team as they continue to leverage their strong technological capabilities to expand and support a wider network of customers,” Anil Thadani, Chairman of Symphony International Holdings Limited, said in a statement.
Edited by Kanishk Singh
Link : https://yourstory.com/2021/08/funding-alert-bengaluru-based-blowhorn-raises-funding
Author :- Shreya Ganguly ( )
August 21, 2021 at 08:18PM
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