UAE-based start-up Trukkin has secured SAR26 million ($6.9m) from a Series A round of fund-raising.
The round was led by Saudi-based Emkan Capital with participation from Impact46 Seed Fund, Taya Group and other investors.
Founded in 2017 by former Barclays banker Janardan Dalmia, Trukkin connects shippers and transporters for the movement of heavy cargo.
Dalmia said: “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 launching in Pakistan, Trukkin has continued to invest in technology and expand its services to newer markets while strengthening the company’s presence in Saudi Arabia and the UAE. Trukkin has grown threefold since the onset of the pandemic and now serves 12 countries across the Middle East region.
Janardan Dalmia, CEO of Trukkin Middle East and Pakistan
“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,” Dalmia added.
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