Onmove | Transin Logistics: Onmove acquires Hyderabad-based Transin logistics
Summary
Transin is a trucking solution business operating in the Port ecosystem of India, with an annual revenue rate of Rs 200 crore. With a network of more than 34,000 trucks catering to the EXIM and bulk cargo segments, Transin serves major blue-chip clients such as Aditya Birla, Ambuja Cement, ITC , Adani, Nuvoco among others.Onmove has raised a pre series A round of equity funding led by its existing investors Oliphans Capital with participation from several marquee angel investors like Haresh Chawla . Venture debt is raised from Chennai-based AIF fund Anicut Capital which has also participated in an equity round.This partnership will help Onmove broaden its customer base in the commodity segment and enter the Port logistics business with focus on Port to Plant movement.Transin, in turn, will be able to expand its user services by offering end-to-end logistical assistance for the transport of final products from plant facilities to the end market. Praveen Jain , Co-Founder at Onmove, said in a statement, Transin is a natural extension of our business as it helps us expand our bouquet of services, boost our network reach and further bolster our tech capabilities. This acquisition is our move towards creating a peerless tech-powered truck aggregation platform in India.