Logistics Tech Startup BlackBuck Raises $67M Series E Funding, Enters Unicorn Club
BlackBuck, an online trucking platform, has raised Series E funding of $67 million led by Tribe Capital, IFC Emerging Asia Fund, and VEF.
The funding round also saw participation from existing investors Wellington Management, Sands Capital, and International Finance Corporation.
With this funding, the Bengaluru-based startup has made its entry to the coveted unicorn club (valued at over $1 billion). As per the startup, it will use these funds to further penetrate the market and launch new service offerings for its customer base. BlackBuck also plans to invest heavily in product and data science capabilities to enable more efficient freight matching for the Indian trucking ecosystem.
BlackBuck | Organizing, Digitizing And Simplifying Trucking
Founded by Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian B in 2015, BlackBuck digitizes fleet operations for truckers. The startup is committed to making it easier for millions of truckers to book a load and move at capacity and enable shippers of all sizes to have access to the right truck.
Speaking on the development, Rajesh Yabaji, Co-Founder and CEO of BlackBuck, said,
“BlackBuck started with a dream to re-imagine trucking, to make it 10X simple and 10X efficient. It has been six years, and we are just getting started to make a difference. We continue to dedicate ourselves for the foreseeable future to solve fundamental Indian trucking problems. The new financing round gives us more firepower to invest in fundamentally hard trucking problems and continue deepening our reach and impact.”
With nearly 700,000 truckers and over 1.2 million trucks on its platform, BlackBuck clocks over 15 million monthly transactions. The startup operates pan India across 700+ districts and 1,000+ industrial hubs, enabling smooth and efficient trucking operations.
The startup claims to have over 10,000 customers, including SMEs and large corporates like Asian Paints, Tata, Hindustan Unilever, Coca Cola, Vedanta, Reliance, and L&T.
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