ESIP Blackbuck

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Founded in April 2015 and launched in July 2016, Zinka Logistics Pvt. Ltd. (“Blackbuck”, “BB”, or “the Company”) is a leading technology platform in India for long-haul trucking. Through its mobile app interface, Blackbuck connects large and small shippers with small truck owner/operators to book full-truck-load (FTL) freight for inter-city transportation. It is the leading loadboard in India with ~80,000 verified trucks on its platform and 100k+ transactions year-to-date (YTD). The company does not provide services for transportation of hazardous or dangerous goods. The company has two different models (a) organized contracted freight - formal contracts with shippers (a number of big companies including multi-national companies) to move freight for predetermined routes at pre-negotiated price and auctions of freight just-in-time through the app marketplace; and (b) unorganized spot market freight - where shippers use app to source truckers for immediate needs. The transporters are empaneled on the app by submission of the statutory documents (e.g. personal account number (PAN) card, unique identification card, and registration certificate (RC) of one of the trucks) and truck is empaneled (once a trip is accepted) by submission of RC, insurance certificate, driver license and pollution under control (PUC) certificate. Under (a), the payment to the transporter is made by the company whereas under (b), the payment is made to the transporter directly by the shipper In all models, the company issues a Goods Consignment Note (GCN) which is essentially a trip level contract with the truckers. Most of the transporters on average own around five trucks and employ five drivers.The company is also providing support in using ancillary services (like toll cards and fuel cards) to drivers with some partners like a non-banking finance company and petroleum retailers so that truck drivers do not need to carry a lot of cash increasing safety.  The proposed investment is an equity investment of up to $10 million in the company for continue driving growth in contract and spot business and build-up of ancillary services platforms (“the project”).