Trukkin Raises $7 Million in Series A Funding Round
The logistics and supply chain startup Trukkin has secured an investment round of $7 Million for it’s Series A round. The round was led by Saudi based Emkan Capital with the 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.
Janardan Dalmia, Founder and CEO of Trukkin commented: “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.”
Since their highly successful launch in Pakistan, Trukkin has continued to invest in technology and expand its services to newer markets while deepening their presence further in Saudi Arabia and the United Arab Emirates.
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.
"It’s 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 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.
Read More: Trukkin Launches Operations in Pakistan