Don't know how to govern, digitize or facilitate trucking? Facing a hell lot of problems right? Have no ideas about how to match a shipper with a trucker? Literally, price discovery is a big issue here for those beginners whoever don't know anything. Insurance matters, financial services and the infrastructure around trucking also come under as well.
Anyway, these all are no more any big deals. Read the BlackBuck success story below in order to learn more and whatever you have missed knowing before. BlackBuck the tech startup will help a lot to the readers to bring the offline operations of trucking online. As you all know everything is not meant for all.
Company Highlights
| Startup Name | Blackbuck |
|---|---|
| Headquarter | Bangalore, Karnataka, India |
| Sector | Logistics and Transportation |
| Founders | Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B |
| Founded | 2015 |
| Parent Organization | Zinka Logistics Solutions Pvt. Ltd. |
| Website | blackbuck.com |
BlackBuck - About
BlackBuck - Startup Story
BlackBuck - Founders And Team
BlackBuck - Business Model
BlackBuck - Revenue Model
BlackBuck - Funding And Investors
BlackBuck - Logo
BlackBuck - Growth
BlackBuck - Competitors
BlackBuck - Future Plans
BlackBuck - About
BlackBuck is India's largest trucking system. They say that they provide shippers and truckers seamless experience, efficiency and trustworthiness. The company uses technology to match a shipper with a trucker and facilitate price discovery. They say the company has simplified trucking since 2015. Presently they are having a sum of 15000+ clients.
BlackBuck - Startup Story
Rajesh Yabaji says in an interview that his company is
"unicorn by heart and not yet by number".
He is moving forward towards his goal.
He says, "until now they are unorganised".
Because most of the trucks come from rural areas. Presently, they are having 400000+ trucks from about 5000 locations.
It's very important for him to create an impact in India widely is what he is thinking currently. Blackbuck is almost like Ola and Uber for trucks. The founder says that he is investing in a few areas from the very beginning to get supply online, to comprehend the technology and to transact online which is the biggest problem to solve for them. So, which is why they have created the 'boss app' to simplify things.
StartupTalky
BlackBuck - Founders And Team
Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B are the founders of the company BlackBuck.
- Rajesh Yabaji is a 30-year-old man, the founder of the company. He pursued his education from the Indian Institute of Technology, Kharagpur. Currently, he is living in Bengaluru, Karnataka, India. He worked as the Category Development Manager commonly known as the Business Manager in ITC Limited for 4 years and 10 months (June 2010 - June 2014). He was also a 3 months intern from May 2009 to July 2009 at Schindler India Pvt Ltd.
- Chanakya Hridaya is the co-founder and CEO of the company. He also did his Bachelor's degree from Indian Institute of Technology, Kharagpur.
- Ramasubramaniam B is also one among the founders of BlackBuck. He is the Product Manager at BlackBuck.
BlackBuck - Business Model
The company charges its customers a fixed rate for their contract business. In their demand model, they charge both their customers and truck owners a commission totally depending on the freight value. They say that their company has each and everything that takes to win a truck race smooth. Founders got great help from their bachelor's degree and they realised that there could be a larger play of trucks in the industry for technology to come in.
StartupTalky
BlackBuck - Revenue Model
The company earns about 15 to 20% commission for providing business to the trucks it hires. It has got properly listed truck services listed on its platform and its job is to match the truck intelligently along with the customers, totally which depends on the customer's requirements. Logistics is the soul of every invention.
The company is redefining the logistics landscape thus making it reliable and efficient. It's estimated annual revenue is $135.5 million. This digit shows that the company is doing well.
BlackBuck - Funding And Investors
BlackBuck has raised an amount of $297 Million in funding over the 8 funding rounds.
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| May 7, 2020 | Debt Financing | $4 Million | Trifecta Capital Advisors |
| November 26, 2019 | Series D | Rs 560 Million | - |
| May 1, 2019 | Series D | $150 Million | Accel, Goldman Sachs |
| October 8, 2018 | Series D | Rs 2 Billion | Sequoia Capital India |
| October 18, 2017 | Debt Financing | Rs 500 Million | InnoVen Capital |
| March 21, 2017 | Series C | $70 Million | Sands Capital Ventures |
| December 11, 2015 | Series B | $25 Million | Accel |
| June 22, 2015 | Series A | $5 Million | Accel |
BlackBuck is funded by 13 investors. Trifecta Capital Advisors is the most recent investor.
BlackBuck - Logo
The company marks the beginning of a new path. Â
BlackBuck - Growth
In the company, all are not eligible for vesting as written above. They have 300000 trucks, 60000 fleet owners, on its platform. Fleet owners in this company were able to reduce idle time by 45% directing towards an increase in earnings between 20% and 30%.
StartupTalky
BlackBuck - Competitors
The top competitors of the company are Xpressbees, Rivigo, Delhivery, ElasticRun and Blowhorn.
Look at the comparison drawn below -
Rivigo is a technology-enabled company that offers logistics services and solutions just like BlackBuck. This is also a private company. It was found in the year 2014. It's headquartered in Gurugram. It has got 2791 employees who are more than BlackBuck in terms of number. It has got 222 Twitter followers and 110031 is it's Alexa Website Rank which is lesser than Blackbuck. Its employee rating is 3.4 which is more than BlackBuck.
StartupTalky
BlackBuck - Future Plans
The goal of the company is to deploy cash to onboard new trucking partners, expand to new transportation corridors and invest heavily on product buying and data science capabilities.
