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Blowhorn raises Rs 25 crore from IDG Ventures, others

Press Trust of India  |  New Delhi 

Intra-city logistics start-up, Blowhorn, has raised USD 3.65 mn (about Rs 25 crore) from IDG Ventures India, Michael & Susan Dell Foundation and existing investors -- Draper Associates and Unitus Seed Fund.

The company plans to utilise the proceeds from the Series A funding to expand operations to eight cities in the next 24 months, with over 25,000 daily active drivers, Blowhorn said in a statement.

Founded in 2014 by Mithun Srivatsa and Nikhil Shivaprasad, Blowhorn offers a tech-enabled platform to connect customers to mini-truck owners, enabling intra-city, sub 2-tonne deliveries.

The company has 50 full-time employees and is present in Mumbai, Bengaluru, Chennai and Hyderabad.

"We have been able to leverage technology and operational innovation to emerge as a market leader by ensuring high business profitability and customer satisfaction. We will now focus on leading the segment across all performance metrics," Blowhorn CEO Mithun Srivatsa said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, March 07 2017. 14:32 IST
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