Online trucking straup BlackBuck drives into India’s unicorn club as the 16th member embracing a $ 67 million raise and a valuation of over $ 1 billion from a Series E funding round led by Tribe Capital, IFC Emerging Asia Fund and VEF. The round also involved other existing investors such as Wellington Management, Sands Capital, and IFC.

With these funds BlackBuck wants to steer the market by launching new service offerings to its customers.

Additionally it plans on investing heavily in product and data science capabilities and on the other hand, it wants to enable more freight matching for the Indian trucking ecosystem.

For truckers, this newbie 16th unicorn is the go to for digitizing fleet operations and it’s currently viewed to be reigning its power of over 90 percent in the market share of truck driving domain.

With over 1.2 million trucks and close to 700,000 truckers it handles more than $15 million in monthly transactions and operates over 700 districts and 1000 industrial centers across India.

At the same time it ensures seamless and efficient trucking operations. Hence, it has fetched earned customers from both SMEs and large corporations who rely on its proven capabilities.

Saadia Khairi, Fund Head, IFC Emerging Asia Fund impressed with BlackBuck said that, “we are thrilled to work with BlackBuck in its next phase of growth. BlackBuck has swiftly developed its online freight marketplace and fleet management services in the middle of the COVID-19 outbreak. The contribution of BlackBuck to enhanced transparency and efficiency in India's huge, fragmented, and largely unorganized long-haul freight industry has the potential to have a considerable developmental impact”.

On the other side there’s Arjun Sethi, Co-founder, and Partner, Tribe Capital explained how India's supply chain and logistics business is transitioning from pen and paper to digital and BlackBuck’s ability to track output and productivity growth has simplified logistical issues for the business in a short period of time. He assured that its ongoing high-velocity growth promises to change the Indian trucking sector much more.

“BlackBuck originated with a dream to re-imagine trucking and to make it 10X simple and 10X efficient,” stated Rajesh Yabaji, Co-Founder and CEO, BlackBuck. We've been at it for six years and are only now beginning to make a difference.

He further went on to say that, “we will continue to devote ourselves for the foreseeable future to solving basic Indian transportation problems. The new funding round provides us with more resources to invest in fundamentally difficult trucking issues while also expanding our reach and impact".