Don't know how to govern, digitize or facilitate trucking? Facing a hell lot of problems? Have no ideas about how to match a shipper with a trucker? Literally, price discovery might sound to be a big issue here for those beginners who have no idea about it. Furthermore, building a comprehensive understanding of insurance, financial services and the infrastructure around trucking are things that take time to develop. This is why BlackBuck was founded as a one-stop solution to organize, digitize and simplify trucking!
BlackBuck, the tech startup came into existence on April 20, 2015. Read BlackBuck Success Story here:
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
FAQs
BlackBuck - About
BlackBuck is India's largest trucking system, which is redefining the logistics ecosystem of India. It provides shippers and truckers quick and easy availability, transparent pricing, efficiency, trustworthiness and thereby, bring in a seamless experience with Data Science at its core. Besides, the company uses technology to match a shipper with a trucker and facilitate price discovery. BlackBuck promises the essentials and believes in building future-ready products for their clients.
The company has simplified trucking since 2015. BlackBuck currently boasts of having 15000+ clients, as of April 28, 2021.
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".
This is because most of the trucks come from rural areas. Presently, Blackbuck has 1.2 million trucks and around 700,000 truckers under its wing.
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.
Shubham Kumar
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
BlackBuck 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.
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. The annual revenue of BlackBuck is reported to be Rs 1,790.7 crores, in FY19. This digit shows that the company is doing well.
Ashwini
BlackBuck - Funding And Investors
BlackBuck has raised an amount of $364 Million in funding in total over the 9 funding rounds that it has seen. With the latest funding round led by Tribe Capital, VEF, Emerging Asia Fund, and other existing investors, the company has successfully raised $67 million. This has made the total valuation of BlackBuck shoot up to $1.02 billion, eventually making it the second unicorn in the space, after Rivigo and the third unicorn in the logistics sector, which also includes Delhivery.
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| July 22, 2021 | Series E | $67 Million | Tribe Capital, VEF, IFC Emerging Asia Fund |
| 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 | $26.86 Million | Sequoia Capital India |
| October 18, 2017 | Debt Financing | $67.15 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.
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%.
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.
Vidhi Punamiya
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.
FAQs
What is BlackBuck?
BlackBuck is India's largest trucking system.
What does BlackBuck company do?
BlackBuck uses technology to match a shipper with a trucker and facilitates price discovery. It also enables infrastructure around trucking including payments, insurance, financial services.
What is the business model of BlackBuck?
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.
Rishabh Rathi
Author: Purbalee Dutta
Source : https://startuptalky.com/blackbuck-success-story/
Date : 2021-07-22T09:30:00.000Z