Blowhorn (Catbus Infolabs Pvt. Ltd.), a leading asset-light logistics service provider, has raised venture debt funding from Trifecta Capital, as informed yesterday.
Although the company did not reveal the funding amount, it informed that the new funding will be used to build the leading intra-city logistics tech company by creating an asset-light, full stack logistics marketplace.
This funding is a testimony to Blowhorn’s continued focus on innovation, capital efficiency and a best-in-class customer experience.
“Blowhorn is building a fast growing business in a space that is seeing even greater interest in times of COVID19. Given its focus on intra-city logistics and depth of fulfilment capabilities, the company is able to support a wide spectrum of customers in these challenging times. Having tracked this space for some time, we believe that Blowhorn’s technology leadership combined with a capital efficient model will enable it to scale into a profitable, highly defensible national player in full stack logistics.”~Rahul Khanna, Managing Partner – Trifecta Capital,
The funds will be used to achieve full P&L profitability by the end of FY20.
“We are thrilled to have Trifecta Capital invest in Blowhorn. Trifecta Capital is an extremely selective capital allocator. We are delighted to work with Rahul and the entire Trifecta Capital team.”~Mithun Srivatsa, CEO – Blowhorn,
Blowhorn headquartered in Bengaluru, India was founded in 2014 and currently operates in major cities in India with around 40,000 drivers on board. The company connects customers with intracity transportation to handle loads from 1g to 1T.
Furthermore, the company provides fulfilment services and full API integrated delivery services. Blowhorn’s investors include Chiratae Ventures, Michael and Susan Dell Foundation, Draper Associates, Unitus Ventures amongst others.