Bengaluru-based startup for Online freight-booking service Blackbuck, recently renamed Zinka Logistics, raised around $6 million (Rs 38 crore) from Flipkart and Accel Partners. The online marketplace’s first significant move in its recent efforts to improve its logistics and supply chain capabilities.
The startup Zinka was founded by IIT-Kharagpur graduates Rajesh Yabaji and Chanakya Hridaya is building an online marketplace for freight transportation booking, focusing initially on logistics between cities. The startup is targeting customers across segments — retail consumers, small and medium enterprises, as well as large companies like Flipkart.
“They have raised $6 million led by Accel Partners,” said a venture capital investor who had considered investing in Zinka, adding that Flipkart was a co-investor. Another venture capitalist, an investor in another logistics startup, too said Zinka had raised funding from Flipkart and Accel. While Accel and Zinka did not reply to emails, a Flipkart spokesperson said, “We do not comment on speculations.”
Flipkart’s investment comes as logistics emerges as a key challenge for online retailers, with supply chain constraints threatening to derail their high growth.