Freight logistics is a brave new world thanks to BlackBuck's Chanakya Hridaya and Rajesh Yabaji

Published: Feb 8, 2017 06:52:32 AM IST
Updated: Feb 6, 2017 03:00:22 PM IST

Image: Selvaprakash Lakshmanan for Forbes India

Chanakya Hridaya, Rajesh Yabaji | 27, 28
Founder & COO, founder & CEO, BlackBuck
Category: Ecommerce

BlackBuck, founded by IIT Kharagpur graduates Rajesh Yabaji and Chanakya Hridaya, along with Ramasubramaniam B in April 2015, is an online marketplace that connects large and small companies with truckers and freight operators across 300 locations in India on a real-time basis.

Yabaji met his two co-founders during a five-year stint (2010-2015) in the supply-chain division of ITC Ltd. Hridaya, prior to joining ITC in 2013, had interned at the company under Yabaji in 2011, while Ramasubramaniam was then a third-party consultant to the diversified conglomerate with a focus on supply chain management.

There are 9 million trucks and 20,000 logistics companies operating in India’s $140-billion road freight transportation industry, according to Yabaji, the CEO of the company. BlackBuck has 100,000 trucks on its marketplace platform, which are used by the likes of Unilever, Marico, Godrej, Coca-Cola and ITC.


“As a customer, it [BlackBuck] gives me complete transparency into what is happening in freight transport, which was earlier an opaque world. The other brilliant aspect is its ability to give me a good rate,” says Sanjiv Rangrass, CEO, agribusiness division, ITC.

Freight charges on the Bengaluru-based BlackBuck’s marketplace are based on a dynamic pricing model. While no discounts are offered, overall freight costs are 10-15 percent lower than offline freight service providers. Using technology, BlackBuck has been able to help truckers optimise their route network and cargo, while ensuring there are no empty freight routes.

That this business to business (B2B) model is promising is evident from the equity funding BlackBuck has managed to raise—$30 million from top global investors such as Accel Partners, Tiger Global and Apoletto, which is a fund backed by Russian billionaire Yuri Milner. 


Click here to see Forbes India's comprehensive coverage on the Covid-19 situation and its impact on life, business and the economy​

Check out our end of season subscription discounts with a Moneycontrol pro subscription absolutely free. Use code EOSO2021. Click here for details.

(This story appears in the 17 February, 2017 issue of Forbes India. To visit our Archives, click here.)

Show More
Post Your Comment
Required, will not be published
All comments are moderated