Maersk Enters India's Digital Trucking Market
Maersk is partnering with BlackBuck, India’s largest online marketplace for trucking, to provide an online marketplace for containerized trucking in export/import logistics in India.
The Indian government has set ambitions to reduce logistics costs from 14 percent of the GDP to less than nine percent by 2022, and the new platform will be owned and operated by BlackBuck with Maersk supporting BlackBuck to develop solutions that help to meet the target.
The neutral platform will be open to the whole industry and aims to improve improving customer experience, match demand-supply through the year and provide consistency in service delivery through real-time visibility and control.
Maersk has set out on a digital transformation journey and amongst various other initiatives globally is the India-focused OceanPro accelerator program which was launched in 2018. The solutions developed by some of the start-ups in first cohort of OceanPro are already being implemented in India and globally. The company launched the second cohort of OceanPro in July this year with a group of five start-ups.
BlackBuck has over three million partner trucks involved with the platform and operates across India in over 3,000 villages and 400 industrial hubs. Currently, the company has over 10,000 clients including Asian Paints, Coca Cola, Reliance, ACC and Hindustan Unilever. BlackBuck is supported by investors Accel Partners, Apoletto Asia, B Capital, Flipkart, Goldman Sachs, IFC, LightStreet, Sands Capital, Sequoia Capital, Tiger Global and Wellington.