India’s trucking system has a big inefficiency problem that continues to tug the economic system. BlackBuck, one of many handful of logistics startups that’s attempting to overtake this technique, has simply raised a brand new financing spherical and attained the coveted unicorn standing.
Tribe Capital, IFC Rising Asia Fund and VEF led the $67 million Sequence E financing spherical within the six-year-old startup, valuing it at $1.02 billion, BlackBuck CEO Rajesh Yabaji advised TechCrunch in an interview earlier this week. BlackBuck is the 16th Indian startup to turn into a unicorn.
BlackBuck connects companies with truck homeowners and freight operators. It has developed a simplified app for truck drivers in India, who’re sometimes not very literate, to assist them settle for work and simply navigate to their vacation spot utilizing Google Maps. On the shopper facet, companies can hearth up the same app to position orders.
It is a growing story. Extra to comply with…