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Bangalore-based online marketplace for freight transportation booking Zinka Logistics (formerly Blackbuck), has raised about $6 Mn (INR 38 Cr.) from Flipkart and Accel Partners, ET reports.
“They have raised $6Mn led by Accel Partners,” said a venture capitalist who had considered investing in Zinka. He also added that, “Flipkart is a co-investor in the firm.”
Founded in 2014 by Rajesh Yabaji and Chanakya Hridaya, Zinka helps customers in moving anything, from anywhere to everywhere. Their customers include individuals, small business establishments and large companies like Flipkart; mostly anyone who need to move goods.
Flipkart’s investment in the logistics space comes in at a time when the etailer has been news for faulty delivery of products. For example, earlier this month Flipkart sent two mangoes instead of a smartphone and bricks in place of a laptop.
In this space, few other players have also raised funding such as Ecom Express, Delhivery among other. Delhi-based logistics solutions provider Ecom Express received $133 Mn. Mumbai-based logistics analytics startup, LogiNext Solutions raised $500k from Indian Angel Network (IAN). Delhivery, ecommerce fulfilment company, raised $85 Mn led by Tiger Global Management and few existing investors like Nexus Venture Partners and Times Internet Limited.
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