The truck-hailing start-up secured the capital from three family group investors
Saudi Arabia and UAE-based logistics firm Trukkin has raised US$ 3.5mn in a funding round led by investors from the Al-Namlah, Al-Madi and the Abanumay Family Groups and Batic Investments and Logistics. The startup will use the investment to scale up its services across the GCC region.
Trukkin operates throughout the GCC region and aims to innovate and simplify logistics and land transportation for long-haul trucking. The company claims to have shipped to more than 200 locations in the Middle East and to have completed over 10,000 long-haul, business-to-business truck movements in Saudi Arabia alone.
“Trukkin’s vision, operational efficiency, capital utilisation, and sound business model drove us to partner with them in the region over other competitors. Trukkin knows the pulse on the ground,” commented Mohamed Al Namlah, Managing Director, Investor Amnest Group.
“Trukkin is building up its marketplace to connect thousands of mostly independent truckers. The long-haul land transport market is highly fragmented and disorganised, and our aim is to institutionalise and professionalise this business,” said Janardan Dalmia, CEO, Trukkin.
Launched in 2017, Uber-replicating Trukkin operates an asset-light model, which means it does not own the trucks it uses.
Through its app and online marketplace, the company brings together shippers who need more transparency and easier access to trucks with truckers who need better access to demand and higher fleet utilisation. Their client base ranges from businesses who order close to 100 trucks a day to ones with smaller needs who order as few as three trucks a month.
