Onmove, a high-speed, long-distance trucking aggregator, has acquired Transin Logistics, a Hyderabad-based trucking aggregation platform for an undisclosed sum.

Transin is a 100 per cent asset light technology enabled trucking solution business operating in the port ecosystem of India, with an annual revenue of ₹200 crore. Powered by a network of over 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. 

Gurugram-based 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 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. 

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. As Onmove has a revenue of ₹400 crore, the combined revenue of the both now will be ₹600 crore.

``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,’‘ Praveen Jain, Co-Founder at Onmove said in a release.

Sravan Banoth, CEO of Transin, said: “The aligned business model of Onmove positions us well to revolutionize this sector together by sharing our highly stable and advanced technologies, product expansion capacities, and proficient port ecosystem.”

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