Dec 22, 2022

Onmove, a trucking aggregator acquires 100 per cent stakes of Transin Logistics, a Hyderabad based trucking aggregation platform. Onmove has raised a pre series A round of equity funding led by its existing investors Oliphans Capital with participation from several marquee angel investors such as Haresh Chawla. This acquisition is funded through a mix of equity and debt. Venture debt is raised from Chennai based AIF fund Anicut Capital which has also participated in an equity round. This partnership will help Onmove broaden its customer base in the commodity segment. It will further help Onmove strengthen its presence in the southern part of India. Besides, it will help Onmove enter the Port logistics business with focus on Port to Plant movement. Transin, in turn, will be able to expand its user services by offering end-to-end logistical assistance for the transport. With this acquisition, Onmove has achieved an ARR of ~INR 600 crore. Praveen Jain, Co-Founder at Onmove was quoted after the successful acquisition of Transin Logistics, he said, “This acquisition is our move towards creating a peerless tech-powered truck aggregation platform in India. Onmove intends to use inorganic growth as an active strategy to achieve expansion. This is Onmove’s first acquisition, and we intend to evaluate many such opportunities in the future”  "While the road transportation dominates the logistics sector with a dominant share of 60 percent, the shift towards multimodal infrastructure with a mix of rail, shipping, road, and air transport, will help reduce the congestion on roads along with low crude import bills. Another promising aspect of this association will be that Onmove will be able to explore opportunities in multimodal movement," said Pervinder Singh Chawla, Co-Founder of Onmove. Share this article: