There are near about 40 variants of freight trucks plying India’s roads. Trucking technology startup Blackbuck is aiming to triple the size of its truck-hailing platform within the next two years following a round of funding.
The startup aims to solve the complex puzzle of matching loads with capacity by connecting shippers with trucks something similar to Uber. Uber connects passengers with taxis helping to streamline the puzzle, which indeed is complex in India.
The Bangalore based startup Zinka’s logistics solution BlackBuck has 300,000 trucks and 60,000 fleet owners on its platform in just within 3 years and dreams to increase that number to 1 million by 2021. Recently the startup had raised $150 million in Series-D funding as a part of this round, BlackBuck employees can sell 25% of their total vested stocks, according to reports. The company’s employee stock pool stands at 4.7% and is valued at Rs 300 crore.
If the valuation of the company strikes 1 Billion marks, it will be India’s 17th company to touch unicorn status. With this solution, shippers can book a truck with a click just like any other ride-hailing App BlackBuck matches the demand with available trucks and drivers. The drivers then go to the pickup point and then to its destination. If the drivers manage to deliver it before time, then they receive incentives from BlackBuck.
Founded by two engineers and a business graduate in 2015, Zinka is trying to push its way in the largest economy in South Asia through deep technology.