Logistics Startup Blowhorn Raises Venture Debt From Trifecta Capital
Summary
Blowhorn, a Bengaluru-based startup, owned by Catbus Infolabs, has raised undisclosed venture debt from funding provider, Trifecta Capital. On the funding into Blowhorn, Rahul Khanna, Managing Partner, Trifecta Capital said, “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.” Founded in 2014, by Mithun Srivatsa and Nikhil Shivaprasad, Blowhorn has expanded its presence to over 30 major cities in India currently with around 40,000 drivers on board. “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,” Khanna added. The advent of coronavirus pandemic has allowed these logistics startups to reconsider their business model, which is likely to bring the much-needed changes in the whole supply chain infrastructure.