.png)
The logistics and supply chain startup Trukkin has secured an investment round of $7 million for its Series A round. The funding round was led by Saudi-based Emkan Capital, with participation from Impact46 Seed Fund, Taya Group, and other strategic investors.
Founded in 2017 by former Barclays banker Janardan Dalmia, Trukkin is a leading aggregator that digitizes the process of matching shippers with truckers to bring about transparency, reliability, and efficiency to the logistics industry. Trukkin also works towards building fintech solutions for payments, insurance, and financial services. These solutions lay the groundwork for more financial inclusion for the unbanked and increase much-needed transparency and efficiency for suppliers.
“I’m very proud of the team and the growth we’ve achieved over the course of the last year as we expanded into Pakistan and grew revenues despite the difficult environment presented by COVID. We are excited to close the round with strategic investors like Emkan Capital and Impact46 - it confirms our vision of creating a world-class regional aggregation platform to enable logistics for the shippers and transporters," commented Janardan Dalmia, Founder and CEO of Trukkin.
Since its highly successful launch in Pakistan, Trukkin has continued to invest in technology and expand its services to newer markets while deepening its presence further in Saudi Arabia and the UAE.
Ghassan Aloshban, GP at Emkan Capital, said: “Trukkin has exhibited incredibly efficient use of capital and we’re very impressed with what they’ve been able to achieve in such a short time frame. Its core team with over 200+ years of combined industry experience have showcased their expertise in not only navigating but driving growth during the pandemic. We look forward to supporting Trukkin, in serving hundreds of corporate clients and individual shippers as they aggressively look for expansion and growth in reach, capability, and business volume”.
“Trukkin's management team has shown its unique ability to build businesses across multiple geographies in 3 years while retaining the strong culture of the company. We are confident in their ability to build, manage, and scale the business,” added the Impact46 team.
“We see enormous growth potential in the logistics industry in the MENAP (Middle East and Pakistan) region, the size of the market is considerable at over $50 billion. Currently, local fragmented players dominate the market in the region, and we are working to be an enabler that brings this fragmented market together on an integrated, world-class platform to showcase collective growth,” Janardan Dalmia commented on the platform's future plans.
Trukkin has grown 3x since the onset of the pandemic and scaled into Pakistan midyear in 2020 becoming the first mover and the leading logistics platform in Pakistan while growing its business in the UAE and KSA and serving 12 countries in the broader Middle Eastern region.
