India-based business to business (B2B) logistics platform BlackBuck is seeking to raise about $43.5 million in the first close of its new funding.
The round, which could reach $150 million in total, is lead by U.S.-based Accel Partners with participation from new backers including Goldman Sachs and B Capital.
The round is expected to give BlackBuck a valuation of as much as $879 million.
In December, BlackBuck also closed $12.4 million from existing investors including Sands Capital and the World Bank’s International Finance Corp.