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<ul><li>Logistics startup <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> raised $150 million in a series D round led by <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> Investment Partners and Silicon Valley-based Accel. </li><li>Blackbuck employees have the option to liquidate 25% of their total vested stocks, at the current stock price of the company.</li></ul>In the Indian startup world, talks have been doing the rounds – which one is going to hit the unicorn club next? And if you have been a part of these discussions, two logistics startups names have always come in – <keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> and Blackbuck. All eyes have been on funding announcements by either of these startups, to know that they have ferried their way into being a unicorn. Well, Blackbuck announced its funding on Wednesday, and although it has fallen a few million short of being a unicorn (it is currently valued at $950 million) – it had another interesting Employee Stock Ownership Plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) round. The online marketplace for trucking has raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation. “With this round of financing, we will invest to deepen our presence across the national market. Significant investments will be made into product development and data sciences, both these dimensions are core to BlackBuck’s marketplace approach”, said Rajesh Yabaji, CEO &amp; Co-Founder of BlackBuck. However, along with this round Blackbuck employees had the option to liquidate 25% of their total vested stocks, at the current stock price of the company. According to the company’s official statement, over the last four years, the company’s employee stock option (ESOP) plan created a cumulative value of over $43 million and the company continues to invest heavily in this direction. The logistics startup made this offer available to its employees for the second time. In 2017, when the company was still an early entrant in the today’s $150 billion long haul road transportation industry in India, had offered its employees to liquidate their stocks for <a href="https://inc42.com/buzz/blackbuck-logistics-esop-repurchase-plan/">11X</a> returns. The move comes in to ensure employee growth along with the company’s growth. BlackBuck has over 300,000 trucks and 60,000+ fleet owners on its platform and services major companies including Coca Cola, HUL among others. See Also: <a href="https://www.businessinsider.in/delhivery-raises-395-million-from-softbank-enters-the-unicorn-club-of-india/articleshow/68287009.cms">Delhivery becomes India’s first unicorn in 2019, thanks to SoftBank</a> <a href="https://www.businessinsider.in/private-equity-and-venture-capital-deals-in-india-were-worth-10-billion-in-q1-2019/articleshow/68716660.cms">Indian funding deal value in the first three months of 2019 is over half of last year's total</a>

This Indian startup’s latest funding is also going to make its employees rich

<ul><li>Logistics startup <keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> has raised $65 million in its Series E round.</li><li>This funding, which came in from Warburg Pincus and <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword>, is a part of its ongoing Series E round. </li><li>The startup’s last reported valuation was $950 million and with this funding it could have crossed the $1 billion mark to be a unicorn.</li></ul>Logistics startup Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners. Rivigo’s last reported valuation was at $950 million when it raised the earlier tranche for the Series E round, in February. With the new round, Rivigo could have become India’s latest unicorn, although it’s not confirmed yet. “We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, chief executive of Rivigo, said in a <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/warburg-pincus-saif-partners-lead-65-million-funding-round-in-rivigo/articleshow/70171852.cms">statement</a>. Rivigo and its competitor <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> both have been racing towards the unicorn status. Blackbuck had announced its latest funding in May and it had fallen a few million short of being a unicorn. It is also currently valued at $950 million. Blackbuck had raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.

Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

<ul><li>In May 2019, India saw M&amp;A transactions worth $3.4 billion and PE deals worth $1.1 billion take place, according to a report by Grant Thorton.</li><li>When compared to April 2019, the deal volumes have dropped by 29% although deal size grew by 6%. </li><li>Startups led the PE deals with companies like <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword> and <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> raising big money in May 2019.</li></ul>The election month did not go down well with investors. In May 2019, there was an 83% drop in deal value for the month as fewer <keyword id="496458" type="PERSON" weightage="20" keywordseo="PRIVATE-EQUITY-DEALS">private equity deals</keyword> closed, as did mergers &amp; acquisitions. India witnessed 33 M&amp;A transactions and 48 PE deals worth $3.4 billion and $1.1 billion for the period, according to a report by Grant Thorton. The number of deals too dropped by 17%, the report said. When compared to April 2019, the deal volumes have dropped by 29% even as the deal size grew by 6%. Indian startups led the PE deals with as many as 25 deals closed for the month accounting to $325 million. The e-commerce sector saw just three deals but their combined size worth $229 million. The biggest investments included $200 million funds raised by Grofers from Japanese investment firm Softbank. Logistics firm Blackbuck too raised as much as $150 million. Interestingly, both the companies are in the running to become the next unicorns of India. In the first quarter of 2019, India had saw a flurry of activity in the PE and venture capital space. PE-VC firms invested $10 billion in the country via 159 deals, according to data research firm <a href="http://ventureintelligence.blogspot.com/2019/04/private-equity-investments-up-26-to-10.html">Venture Intelligence</a>.

India's PE and M&A deal values in May 2019 dropped by 83% from last year

<ul><li><keyword id="4376738" type="PERSON" weightage="20" keywordseo="ElasticRun">ElasticRun</keyword> raised $40 million from <keyword id="8265057" type="UNKNOWN" weightage="20" keywordseo="Prosus-Ventures">Prosus Ventures</keyword>, which was formerly called <keyword id="3777101" type="PERSON" weightage="20" keywordseo="Naspers-Ventures">Naspers Ventures</keyword>.</li><li>The startup is currently present in 200 cities in India.</li><li>This year, two <keyword id="2879647" type="PERSON" weightage="20" keywordseo="Logistics-startups">logistics startups</keyword> Delhivery and Rivigo have achieved unicorn status.</li></ul>Pune-based logistics firm ElasticRun raised $40 million from Prosus Ventures, which was formerly called Naspers Ventures. The round also saw participation from Avataar Ventures and Kalaari Capital. With the funding, ElasticRun will invest in building its technology platform and evolve its analytics and machine learning platform. The startup also wants to expand to newer geographies. It is currently present in 200 cities in India. “The last mile problem is still a major issue both for logistics and consumer goods companies in India. By working with the network of small stores across the country, we solve that problem while helping the store owners grow their businesses at the same time. In addition, offering a flexible logistics extension to consumer goods companies to directly reach these small retail shops is a huge advantage over traditional distribution networks,” said Sandeep Deshmukh, ElasticRun Co-Founder and CEO. The latest funding in the $300 billion logistics industry in India is another proof of growing investor interest in the category. This year, two logistics startups Delhivery and Rivigo also achieved unicorn status. Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners. Another logistics startup Blackbuck raised funds in May and fell a few million short of being a unicorn. It is currently valued at $950 million. Blackbuck raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.

Logistics startup ElasticRun raises $40 million to expand to new geographies

<ul><li><keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> is the latest startup to attain the $1 billion valuation.</li><li>This year, India has already seen 8 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> joining the unicorn club. </li><li>With 3 months left for 2019, this year could break 2018’s record of 8 unicorns.</li></ul>India’s unicorn club seems to be having a good year as eight startups joined the coveted club In 2018, eight startups turned unicorns basically reached $1 billion in valuation. Here’s a look at all the startups that have crossed the valuation mark so far in 2019. Rivigo The latest startup to join the unicorn club is logistics startup Rivigo. The logistics sector had long been in the limelight after Delhivery turned unicorn. After this, both Rivigo and Blackbuck raised funds, heating up the race to being a unicorn. Now, Rivigo has managed to be a unicorn after it raised $4.9 million from South Korea's KB Platform Fund. After the deal closed, it is valued at $1.05 billion. Delhivery In March this year, Delhivery became 2019’s first unicorn. This was after the logistics tech startup raised $395 million from SoftBank. After its funding in March, it’s valued at $1.6 billion. The logistics solutions company was founded by Sahil Barua, Mohit Tandon, Suraj Saharan, Kapil Bharti and Bhavesh Manglani. They created a stronghold in the market by partnering with e-commerce majors like Flipkart and Paytm amongst others. Big Basket The grocery retail startup became a unicorn in March 2019. Bigbasket closed its Series F round of funding with an investment of $150 million, which valued it at $2.3 billion. The funding was led by Bigbasket’s earlier investor Alibaba, along with a new investor – Mirae Asset. The grocery sector which is now buzzing with new entrants like Swiggy. Grofers too turned its finances around, and has recently turned a soonicorn after the latest round of funding in May 2019. Ola Electric Ola’s subsidiary Ola Electric also turned a unicorn like its parent company. Its growth has also been fast as most of Ola’s existing investors placed their bets on the company. In July, it became a unicorn after raising $250 million from Softbank. In May, Ola Electric also raised funds from former Vodafone Group CEO Arun Sarin. Some of its other illustrious investors include Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Dream 11 India’s first gaming unicorn is Dream11, a fantasy gaming startup. It announced a secondary investment from Steadview Capital, an Asia-focused alternative asset manager in April 2011 which gave brought it its unicorn status. The 11-year old startup had a dream run in 2019, after signing up with IPL and the BCCI as its official partners. The cricket world cup along with IPL helped it clock in stellar numbers. In an interview with Business Insider, one of its founders Bhavin Sheth said that the startup hopes to hit 100 million users by the end of the year. Icertis In July 2019, India and US-based Software-as-a-Service (SaaS) platform Icertis became a unicorn. It raised $115 million in funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The company, which offers contract management, has 5.7 million contracts across 90 countries. Some of its are Adobe, Airtel, Cognizant, Infosys, and Microsoft. Druva The Indo-US startup Druva entered the unicorn club in June 2019. The cloud data protection startup raised $130 million in a round that was led by Viking Global Investors. It also saw participation from funds like Neuberger Berman and Atreides Management. Existing investors Riverwood Capital, Tenaya Capital, and Nexus Venture Partners too participated in the round. Druva is a SaaS (Software as a Service) startup which was founded by Jaspreet Singh and Milind Borate in 2008. Its patented cloud architecture enables cyber governance, improves cyber resiliency, and helps customers gain critical insights. Citius Tech The healthtech company was a lesser known startup which gained unicorn status. The company provides healthcare solutions, using technologies like business intelligence, mobility and IoT, Big Data, cloud computing, predictive analytics and data science. The company was acquired by Baring Private Equity Asia in July 2019, which gave it a valuation of $1 billion.

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This Indian startup’s latest funding is also going to make its employees rich

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Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

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India's PE and M&A deal values in May 2019 dropped by 83% from last year

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Logistics startup ElasticRun raises $40 million to expand to new geographies

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With Rivigo joining the club, these are the 8 unicorns of 2019 so far

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