India’s trucking system has a big inefficiency problem that continues to drag the economy. BlackBuck, one of the handful of startups that is digitizing the freight and logistics across India, has just attained the unicorn status after securing new funds.
Tribe Capital, IFC Emerging Asia Fund and VEF led the $67 million Series E financing round in the six-year-old startup, valuing it at $1.02 billion (up from about $850 million in 2019 Series D round), BlackBuck chief executive Rajesh Yabaji told TechCrunch in an interview earlier this week. BlackBuck is the 16th Indian startup to become a unicorn this year.
BlackBuck connects businesses with truck owners and freight operators. The startup has developed a simplified app for truck drivers in India, who are typically not very