Onmove acquires Transin Logistics
Indian trucking aggregator Onmove has acquired all the shares of Transin Logistics, a Hyderabad-based trucking aggregation platform.
"Powered by a network of 34,000+ trucks catering to the exim and bulk cargo segments, Transin serves blue-chip clients such as Aditya Birla, Ambuja Cement, ITC, Adani and Nuvoco," Onmove said in a press release.
In order to finance this step, Onmove has raised a pre series A-round of equity funding, led by existing investor Oliphans Capital with participation from several angel investors including Haresh Chawla.
Praveen Jain, co-founder, Onmove: "Transin is a natural extension of our business as it helps us expand our bouquet of services, boost our network reach and further bolster our tech capabilities." It is Onmove's first acquisition. (sh)