Bangalore Blowhorn Ltd, the startup behind Blowhorn, an online marketplace for last mile logistics services, has received an undisclosed amount in seed funding from impact investor Unitus Seed Fund, with participation from Tim Draper, founder and managing partner of Draper Associates.
Blowhorn was founded early this year by Mithun Srivatsa and Nikhil Shivaprasad. Srivatsa (CEO) has experience in logistics with Maersk Group. He holds an MBA degree from Cambridge Judge Business School and a Mechanical Engineering degree from NIT Nagpur. Shivaprasad (CTO) is a MS from North Carolina State University and also holds a BE degree in Electronics from NIT Nagpur.
Blowhorn is building a logistics marketplace focused on the last mile. It offers a tech platform connecting owners of mini-trucks to consumers, who want to move goods quickly and effortlessly around town.
Currently, mini-truck drivers suffer from inefficient utilisation, sometimes not getting a booking for a load to carry for a day or more. At the same time, consumers have ever-increasing needs to move things around the crowded streets of India’s major metros. Blowhorn claims that it brings them together seamlessly.
“We see enormous upside in improving logistics for consumers and at the same time increasing the take-home profits of low-income mini-truck drivers,” said Srikrishna Ramamoorthy, partner at Unitus Seed Fund.
Unitus Seed Fund, part of the Unitus Group, is a financial services group operating in multiple emerging markets since 2000. The fund essentially invests in BoP startups that serve large low-income populations.
This is Unitus Seed Fund’s sixth deal and third m-commerce related investment in India since January this year, following investments in mGaadi (m-commerce solution for ordering auto rickshaws) and Jiffstore (m-commerce and customer engagement solution to grocery retailers).
It has also backed ventures like Medypal (online marketplace for healthcare services), dental chain Smile Merchants and Laundry Project early this year.
(Edited by Joby Puthuparampil Johnson)