Unitus Seed Fund has led a seed round investment in Blowhorn, a Bangalore based disruptive logistics startup. The funding round also saw participation from Timothy Draper, founder of global venture capital firm Draper Fisher Jurvestson. The deal terms remained undisclosed.
Founded by Mithun Srivatsa and Nikhil Shivaprasad in 2014, Blowhorn is an on-demand logistics provider for moving goods.
Blowhorn provides great technology platform that connects drivers of mini trucks with customers looking for movement of goods. This is the initial round of funding for the early stage startup.
Unitus Seed Fund is part of the Unitus Group. It has a $20 million seed-stage investment fund base to help startups “prepare for growth” via seed funding, strategic & operating support, providing critical connections, and securing growth capital.
Unitus Seed Fund which is based Bangalore and Seattle provides seed funding to social enterprises serving large low-income populations in India.
“We see an enormous upside in improving logistics for consumers and, at the same time, increasing the take-home profits for low-income mini-truck drivers,” said Srikrishna Ramamoorthy, partner, Unitus Seed Fund.
“I’m thrilled to see Blowhorn disrupting the inefficient and unorganised logistics market in India. I believe they have a solid team and a good plan to execute,” Draper said.
According to industry estimates, the country’s highly-fragmented mini-truck transportation industry is valued at between $4.8 billion and $9 billion (Rs 30,000-60,000 crore).