Onmove acquires Transin logistics to expand ops

Onmove, a high-speed, long-distance trucking aggregator, has recently announced that it has acquired 100% stake of Transin Logistics, a Hyderabad based trucking aggregation platform. Transin is a 100% asset light technology enabled trucking solution business operating in the Port ecosystem of India, with an annual revenue rate of INR 200 crores. Powered by a massive network of 34,000+ trucks catering to the EXIM and bulk cargo segments, Transin serves major blue-chip clients such as Aditya Birla, Ambuja Cement, ITC, Adani, Nuvoco among others. 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 like Mr 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 which is the largest consumer of trucks. It will further help Onmove strengthen its presence in the southern part of India thus ensuring better load stitching and higher utilization of assets. 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 of final products from plant facilities to the end market. With this acquisition, Onmove has achieved an ARR of ~INR 600 crore.