What is BlackBuck? Let’s Dive to Know about BlackBuck Company Profile Business Model, Revenue Model, Founding Team, and Many More

Introduction:

The online trucking market is called BlackBuck. Offline trucking activities are being brought online by a technologically advanced logistics infrastructure. It makes it simpler for millions of truckers to schedule a load and drive at capacity and makes trucks available to shippers. BlackBuck, which was founded in 2015, has been a leader in bringing trucking’s offline processes online, whether it’s connecting shippers and truckers or transforming the industry’s infrastructure to make payments, insurance, and financial services easier to access. On important policy efforts including the Goods & Services Tax (GST), the E-Way Bill, and others, BlackBuck has collaborated with the World Bank and the Indian Government.

BlackBuck – Company Highlights:

BlackBuck – About:

With BlackBuck, a new era of organized trucking has begun, one that makes trucking simple for every shipper and carrier. BlackBuck, which was founded in 2015, has been a leader in bringing trucking’s offline processes online, whether it’s connecting shippers and truckers or transforming the industry’s infrastructure to make payments, insurance, and financial services easier to access.

As the largest transportation network in India today, BlackBuck offers shippers and truckers a dependable, efficient, and smooth experience with our advanced “Freight” and “Fleet Management” technology platforms.

With BlackBuck, India’s largest trucking system, the country’s logistics environment is being redefined. It offers shippers and truckers immediate availability, clear pricing, effectiveness, and dependability, resulting in a seamless experience with Data Science at its foundation. The business also employs technology to simplify price comparisons and the matching of shippers and truckers. BlackBuck believes in creating products that are future-ready for its customers while making fundamental promises. Since 2015, the business has streamlined trucking. On April 28, 2021, BlackBuck will reportedly have 15,000+ users.

BlackBuck – Industry:

The goal of BlackBuck, an online marketplace for truckers, is to move trucking’s offline processes online. By Zinka Logistics Solutions Pvt. Ltd. Technology logistics services are provided by BlackBuck to businesses. In order to facilitate inter-city freight transportation, it connects truck drivers, shippers, and fleet managers online.

India’s trucking business is constantly expanding and keeping up with the expansion of the logistics and supply-chain sectors. India currently has 12 million or more trucks, and that number is growing daily. An annual growth rate of 15% is being experienced by the truck population in India.

BlackBuck – Founder and Team:

The creators of BlackBuck are Ramasubramaniam B, Chanakya Hridaya, and Rajesh Yabaji. The co-founder and CEO of the business is known as Rajesh Yabaji. Amazing engineers, business developers, spirited leaders, talented designers, and other aspirational people make up BlackBuck’s team.

BlackBuck – Startup Story:

Before starting BlackBuck, Rajesh Yabaji was the director of the supply chain division of the ITC leaf tobacco company. In a Forbes interview, Yabaji explains that he founded BlackBuck in order to address “the problem of corporate big boys such as Coca-Cola, HUL, and PepsiCo.” BlackBuck raised its $5 million startup money in April alone after being founded by Chanakya Hridaya and Ramasubramaniam B in April 2015. Yabaji’s startup began to show its power after 4 months.

Before his company truly became a unicorn in July 2021, Rajesh Yabaji stated in an interview that it was a unicorn “by heart and not yet by number.” He is advancing toward his objective. They have not yet been organized, he claims. This is because most trucks originate in rural areas. Currently, Blackbuck is responsible for over 700,000 trucks and 1.2 million truckers.

Similar to Ola and Uber for trucks, Blackbuck. The founder claims that the main challenge for them to overcome is getting supplies online, understanding technology, and conducting business online. He has made investments in a few areas from the very beginning. Therefore, in order to make things simpler, they developed the “boss app.”

BlackBuck – Mission and Vision:

BlackBuck aspires to create “must have” and “future ready” items to satisfy modern consumer demand. Data science is at the heart of the company’s offerings of goods and services. BlackBuck focuses on influencing consumer behavior as well as utilizing analytics and machine learning. Infinite value is created and quantifiable results are delivered for shippers and fleet operators by the BlackBuck company’s solutions, which are readily available, reasonably priced, and offer a seamless experience.

The founder and CEO of BlackBuck once stated in an interview that “it is our objective to make trucking simple, intuitive, and efficient with cutting-edge technology.”

With a focus on elevating the truck driver throughout the process,

BlackBuck’s mission is to “reinvent the freight-booking logistics industry.”

BlackBuck – Name, Tagline, and Logo:

The company marks the beginning of a new path.  

BlackBuck – Business Model:

For their contract business, BlackBuck Company charges its clients a set fee. According to their demand model, they charge a fee that is entirely based on the freight value to both their clients and the truck owners. They assert that their business possesses all the necessary elements for a flawless truck racing victory. The founders’ bachelor’s degree was of enormous use to them, and they saw that the trucking business might have more room for technology to enter.

BlackBuck – Revenue Model:

Over 93 percent of the money that BlackBuck makes comes from contract trucking services. Additionally, it offers clients telemetry services that allow for real-time tracking of all the trucks, continuously monitoring their shipments.

Additionally, BlackBuck has agreements with banks and marketers of petroleum products, acting as an agent for both parties. The management and distribution of radio frequency identification (RFID) tags are handled by it, and a commission is obtained in exchange. The remaining percentage of operating income is generated by these supplementary services.

For bringing business to the trucks it employs, the company receives a commission of roughly 15–25%. It has properly listed truck services on its platform, and it is in charge of intelligently matching the truck with the consumers based entirely on their needs. Every invention’s logistics are its heart.

In order to make logistics more dependable and effective, the organization is redefining the field. According to recent estimates, BlackBuck’s yearly income for FY21 was Rs 866.73 crores. From Rs 2235.7 cr in FY20 to Rs 866.73 cr in FY21, BlackBuck’s revenues saw a considerable decline.

BlackBuck – Products and Services:

BlackBuck is a logistics company established in 2015 that uses technology to link shippers with trucking fleets. The goal of BlackBuck, an online marketplace for truckers, is to move trucking’s offline processes online. By Zinka Logistics Solutions Pvt. Ltd.

BlackBuck – Funding and Investors:

• A total of 13 investors have funded BlackBuck. The newest investor is Trifecta Capital Advisors.
• Included among the investors are Accel, Apoleto Asia, Flipkart, IFC, Sands Capital Ventures, Sequoia, TigerGlobal, B Capita Group, Goldman Sachs, Light Street Capital, Wellington Management, VEF, and Tribe Capital.
• The investors gave BlackBuck $370.1 million in investment.
• By raising $67 million, BlackBuck becomes a unicorn.
• With the Series E fund round of $67 million, the online transportation platform BlackBuck becomes a unicorn.

BlackBuck – Employees:

Between 501 and 1,000 people work at BlackBuck in India.

BlackBuck – Challenges Faced:

The supply side was also plagued by difficulty. 95 percent of the cars in the core logistics sector are financed, according to Yabaji. The majority of them, he laments, “skipped three to four EMIs.” “Nobody had enough load, and the narrative was going downhill,” one person said.

BlackBuck – Acquisitions:

There is no acquisition yet.

BlackBuck – Growth:

BlackBuck is known as India’s largest transportation platform and takes pleasure in the service it provides. On the site, there are 1.2 million trucks and more than 700,000 drivers. This company’s fleet owners were able to reduce idle time by 45%, which led to a rise in earnings of 20% to 30%. BlackBuck, a unicorn transportation service company, raised $67 million in order to reach the elite club of unicorn businesses in India in July 2021. Additionally, BlackBuck promises that its network processes over 15 million transactions each month.

BlackBuck – Partners:

On important policy efforts including the Goods & Services Tax (GST), the E-Way Bill, and others, BlackBuck has collaborated with the World Bank and the Indian Government.

BlackBuck – Competitors:

The top competitors of the company are:

• Xpressbees.
• Rivigo.
• Delhivery.
• ElasticRun.
• Blowhorn.

BlackBuck – Awards and Achievements:

• 2017: Forbes’ top 30 businesses.
• CNBC Startup of the Year for 2018.
• Zee Business’s 2018 award for best logistics provider.
• Economic Times’ top 40 firms for 2019.
• Frost Sullivan business of the year for 2019.

BlackBuck – Future Plan:

The business intends to use the money to grow into new transportation corridors, bring on additional trucking partners, and make significant investments in product purchasing and data science capabilities.

Conclusion:

Currently a unicorn, BlackBuck is the biggest provider of trucking services in India. BlackBuck, a company founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B, promises to simplify shipping for all shippers and truckers. Customers pay a fixed amount to the company for whatever contract work they perform. According to their demand model, they charge a fee that is entirely based on the freight value to both their clients and the truck owners. They assert that their business possesses all the necessary elements for a flawless truck racing victory.

FAQs:

What does BlackBuck do?

BlackBuck leverages technology to connect shippers and truckers and to enable price comparison. Additionally, it makes infrastructure for truckers, such as payment systems, insurance, and financial services, possible.

When was BlackBuck founded?

It was established in 2015.

Who is the founder of BlackBuck Corporation?

The business was started by Ramasubramaniam B, Chanakya Hridaya, and Rajesh Yabaji.

Who is the CEO of BlackBuck Corporation?

Rajesh Yabaji is the co-founder and CEO of BlackBuck.

Who are the main competitors of BlackBuck?

The top competitors of the company are:

• Xpressbees.
• Rivigo.
• Delhivery.
• ElasticRun.
• Blowhorn.

Ankit Kataria

Engineer | Content Writer
Want to be a catalyst for a positive change in the world