Catbus Infolabs Pvt. Ltd, the Bangalore-headquartered intra-city tech-logistics company that operates Blowhorn.com, has announced successfully raising an undisclosed round of fresh funding. The current round saw participation from existing investors Chiratae Ventures and Dell Foundation as well as new investors that include Venture Catalysts, James Lee Sorenson and Japanese VC firm, Dream Incubator.
The company provides a full-stack service offering through an asset-light model via its tech platform that connects logistics service seekers with mini-truck drivers through the website and mobile app. Blowhorn has grown its revenues over 500% since its previous Series A funding round while enhancing its industry-leading margin. The company has expanded its presence to over 30 cities and now has over 25,000 driver partners on its platform.
Mithun Srivatsa, CEO of Blowhorn, said, “We closed our fundraise to optimise speed and momentum to keep building a category-defining company. Now, with a strong core team in place, we are expanding rapidly and are seeing significant growth in our recently launched verticals. Our goal is to be active across more than 100 cities across India by 2021, and we are on track to achieving that.”