BlackBuck currently manages over 300,000 trucks belonging to around 60,000 fleet owners on its platform. Backed by marquee investors such as Goldman Sachs, Accel Partners, among others, it is investing heavily in product development and data sciences, which are the core of its marketplace approach. Yabaji, who co-founded BlackBuck with his junior at college — Chanakya Hridaya— and Ramasubramanian B, says his company is going after the $250 billion-market for trucking and allied services in the country.
Aryaman Tandon, director at management consulting firm Praxis Global Alliance, says the players in the transportation and logistics ecosystem have a huge untapped opportunity that they can capture using sophisticated technologies. “This includes better driver management and tracking and understanding of fleet performance, improving fuel efficiency and reducing the downtime of vehicles,” says Tandon.
As per the Economic Survey 2017-18, the Indian logistics sector provides a livelihood to more than 22 million people. Improving the sector will facilitate a 10 percent decrease in indirect logistics costs, leading to a growth of 5 to 8 percent in exports. Further, the Survey estimates that the worth of the Indian logistics market would be around $215 billion in the next two years compared to about $160 billion currently.
Featured Leader: Aryaman Tandon
This article was originally published on Business Standard. Read more.
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