BlackBuck is a startup that is based in Banglore. Their work involves related Logistics and Transportation. The founders were Ramasubramaniam B, Chanakya Hridaya, and Rajesh Yabaji. It was founded in 2015. Zinka Logistics Solutions Private Limited is the parent organization of the Blackbuck Company. Their website name is blackbuck.com. The company came into its present form in April 2015. Blackbuck is a platform where you can digitize, organize and simplify trucking. BlackBuck has appreciated the efforts of the Government's digital push like Fast-TAG; It ensures seamless paying toll tax to the toll plaza. Earlier, there used to belong jam to pay toll fees.
BlackBuck is considered to be India's largest trucking system, which has brought a revolutionary change in India's logistics system. They provide services like transparent rates, pricing, trustworthiness, and the introduction of data science to it makes the experience seamless. It is believed that they have around 1500+ clients as per data produced by them on 28 April 2021. They have brought all the truck owners and trucks under one umbrella. As per reports, they have 700,000 truckers and 1.2 million trucks to their command. Rural areas supply more trucks in the system. BlackBuck runs their operations similar to giants like Ola and Uber. Founder of the BlackBuck company opened that at the beginning of the areas, they were facing difficulty to interpret the technology, and there was also a problem from the supply side and transaction process. In order to get things right, they came up with a new app called "Boss" that was meant to make things easier.
Rajesh Yabaji: He is a 30-year-old man, and he founded the company. He's been to the Indian Institute of Technology, Kharagpur, and did his graduation from there. Later, after graduation, he worked in the ITC as Category Development Manager, popularly known as Business Manager. There he worked for atleast 4 years and 10 months. He has also done an internship in Schindler India Private Limited for about 10 months.
Chanakya Hridaya: BlackBuck is co-founded by Chanakya Hridaya and has obtained a Bachelor's degree from the Indian Institute of Technology, Kharagpur.
Ramasubramaniam B: He was also one of the founders of BlackBuck, and he is on the post of Product Manager in the BlackBuck.
Their company levies a fixed rate on its customer for their contract business. According to their model, they levy charges on both truck owner and customer according to their total freight value. According to their statement, they take all effort to carry out their operations smoothly. According to their founders, they stated that they learned a lot from their Bachelor's degree and got to know that they could play a larger role in the truck industry. They understood that bringing technology would revolutionize this sector. It just requires innovation.
Their major source of income is the commission they get from the customer and truck owner. The commission number hovers around 15-20%. Their portal has properly listed truck services, and artificial intelligence makes the portal smooth as it matches the customer to their demand and brings services to their touch. It is said that Logistics are said to be the very foundation of Invention. They are bringing revolution to the logistics sector, a redefining moment. Their annual income is reported in Rs 1,790.7 crores in the Fiscal Year 2019. Their numbers are encouraging, and it shows that the company is in good shape.
Investors and Funding to the BlackBuck
Data shows that the company has raised capital of $364 million. They did it by organizing 9 rounds of investment conferences. Their major investors include:
They were able to fund about $67 million. Later their company market was valued at $1.02 billion, and it made them easier to project them as unicorns in this field and after Rivigo and Delhivery. They have atleast 13 investors who have put their capital into them. The latest investor who has joined the ladder is Trifecta Capital Advisors.
Their symbol represents "the beginning of a new path".
Growth of BlackBuck
60000- Fleet Owner
Fleet owner has played an important role as it reduces time by about 45% and increases the company's income by 20% to 30%.
Competitors of the BlackBuck
Some of the competitors who are giving sleepless night to the BlackBuck is
Rivigo as a Competitor
Rivigo: It is similar to BlackBuck, which uses technology to provide logistics support to its customer. Rivigo was founded in 2014, and it is based in Haryana's Gurugram. The company has a total strength of 2791, bigger than BlackBuck.
Statistics of Rivigo show that the company has over 222 Twitter Followers and is ranked 110031 according to a website called Alexa. Its employment rating is average at 3.5.
Future Strategy for BlackBuck
They are aiming for:
A famous statement made by the founder is: "Unicorn by heart, and not yet by number."
We need more Unicorns like BlackBuck, which may turn into a big MNC.